“We have to save the country from catastrophe . . . Leaving the euro
would be a nightmare and we intend to avert it,” Mr Samaras said.
The prime minister was appealing to MPs from his centre-right New Democracy party to back an unpopular slate of fiscal and structural reforms, designed to save some €13.5bn of government spending, which Greece has promised its international creditors in return for its next loan payment. A vote on the package is due on Wednesday, followed by another high-stakes vote at the weekend on Mr Samaras’ proposed 2013 budget.
The long-delayed loan payment is being counted on to breathe life into a moribund economy by recapitalising Greece’s banks and settling bills with government suppliers. Agreeing the reforms is also a precondition for Greece’s eurozone partners to overhaul the country’s €174bn bailout so that it is less onerous.
Read more: http://www.ft.com/intl/cms/s/0/9ff2fc20-266e-11e2-9295-00144feabdc0.html#axzz2BDC9tRsD
The prime minister was appealing to MPs from his centre-right New Democracy party to back an unpopular slate of fiscal and structural reforms, designed to save some €13.5bn of government spending, which Greece has promised its international creditors in return for its next loan payment. A vote on the package is due on Wednesday, followed by another high-stakes vote at the weekend on Mr Samaras’ proposed 2013 budget.
The long-delayed loan payment is being counted on to breathe life into a moribund economy by recapitalising Greece’s banks and settling bills with government suppliers. Agreeing the reforms is also a precondition for Greece’s eurozone partners to overhaul the country’s €174bn bailout so that it is less onerous.
Read more: http://www.ft.com/intl/cms/s/0/9ff2fc20-266e-11e2-9295-00144feabdc0.html#axzz2BDC9tRsD
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