December 7, 2016

Greece refuses to extend austerity program beyond 2018

Greek government spokesman Dimitris Tzanakopoulos said austerity measures have been socially catastrophic and economically inefficient.

The comments come a day after Eurozone finance ministers approved some short-term debt relief for Greece. However, they failed to sign a second review of Greece's bailout program.

The review is part of an agreement between Greece and its international creditors, which requires Athens to carry out reforms in labor and fiscal sectors in return for receiving funds. Greek Prime Minister Alexis Tsipras took office in January 20-15 on the promise of ending painful spending cuts under the controversial bailout program.

However, he later bowed to pressure from the E-U and the I-M-F and accepted deeper reforms.


Coalition perturbed by implications of decisions taken at Eurogroup - eKathimerini

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