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Friday, August 24, 2012

Greek hopes of reform leeway face test in Berlin





BERLIN (AP) — The new Greek prime minister's hopes of winning more time from creditors to implement reforms and spending cuts face a tough test as he travels to a deeply skeptical Germany on Friday to meet German Chancellor Angela Merkel.

Germany's finance minister has argued that giving Greece more time wouldn't solve the country's problems, and the parliamentary caucus leader of Merkel's conservative bloc poured more cold water on the idea Friday.

Greece's continued access to the bailout packages hinges on a favorable report next month from the so-called "troika" of the country's debt inspectors — the European Union, European Central Bank and the International Monetary Fund.

[...] Merkel would have to get approval for any extra funding in Parliament, where lawmakers in her center-right coalition have no appetite for another Greek rescue program.


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