Greek leaders dispute spending cuts

The Associated Press

September 10, 2012

ATHENS, Greece — The leaders of the three parties in Greece’s coalition government failed to agree Sunday on a package of spending cuts worth €11.5 billion ($14.7 billion), a raft of measures the prime minister had said is crucial to restoring the country’s financial credibility and sustaining its bailout funding.

Conservative Premier Antonis Samaras and the other two leaders — socialist Evangelos Venizelos and Fotis Kouvelis of the Democratic Left — disagreed on across-the-board cuts in pensions and wages. The latter two insisted that Greece’s international creditors give the country more time to implement the spending cuts.

The three agreed to meet again Wednesday evening. The cuts are required for the release of a long-delayed €31 billion ($39.7 billion) loan installment from the European Commission, the European Central Bank and the International Monetary Fund.

The Daily Texan

The Daily Texan

The Daily Texan

Greek leaders dispute spending cuts

The Daily Texan