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Sunday, August 26, 2012

German minister rejects more time for Greece





BERLIN (AP) — Germany's economy minister has rejected calls for Greece to get more time to implement economic reforms, saying in an interview Sunday that Athens needs to respect the bailout deal reached with its international creditors.

Philipp Roesler's comments to ZDF public television come after a visit by Greece's prime minister to Berlin on Friday, during which Antonis Samaras told German Chancellor Angela Merkel that his country needs "time to breathe" before it can make all the budget cuts and reforms demanded as part of its €240 billion ($300 billion) bailout packages.

The question of how to avert a Greek debt default, which could spark a chain reaction among other ailing European economies, has preoccupied EU leaders as they return from their traditional summer break.


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