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Greece, inspectors discuss bailout

07-27-2012 04:18 BJT

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Greece has begun a new round of talks with international debt inspectors from the EU, IMF and European Central Bank.

The discussions are likely to determine whether the country will continue to receive vital rescue loans or be forced to default and leave the eurozone. The talks are focusing on the progress of a raft of austerity measures imposed on Greece as part of their bailout commitment.

Greek officials must show how they intend to cut 11.5 billion Euros from the country’s budget in 2013 and 2014. They must also outline plans to raise revenue by 3 billion Euros. Spending cuts are expected to affect pensions and civil service salaries as well as the health and welfare sectors. A finance ministry official said no new cuts have been requested for this year.


Editor:Zhang Dan |Source:

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