Greek coalition leaders hold new austerity talks

Published: 27th September 2012 01:22 PM  |   Last Updated: 16th October 2012 11:58 AM   |  A+A-

Greece's governing coalition is meeting in a new effort to agree on the harsh cutbacks the country must impose to keep receiving its vital rescue loans.

Prime Minister Antonis Samaras was conferring Thursday with the heads of his two center-left partners, a day after more than 50,000 anti-austerity protesters took to the streets of Athens.

Debt-crippled Greece is committed to implement an €11.5 billion ($14.8 billion) package of cutbacks for 2013-14, accompanied by tax reform measures worth a further €2 billion ($2.6 billion).

But despite repeated meetings over the past two months, the three party leaders have failed so far to see eye-to-eye on where to make the cuts. Time is running out, as the final proposals must be presented next week to representatives of Greece's bailout creditors.


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