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Monday, October 29, 2012

Greek Socialists signal they will back austerity cuts

ATHENS Oct 29 (Reuters) - Greece's PASOK party on Monday gave its strongest hint yet that it intends to provide the support the government needs to get cuts demanded by foreign lenders approved in parliament. Athens has been locked for months in talks with its European Union and International Monetary Fund lenders on a package of 13.5 billion euros ($17.4 billion) in cuts and tax measures. A final agreement to secure aid to save it from bankruptcy has been held up by the refusal of the Democratic Left party, the smallest partner in the three-party coalition, to back some private-sector wage cuts included in the package. But the...

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