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Greek opposition rejects EU call on austerity

 Conservative party opposition leader Antonis Samaras makes statements to the media after his meeting with Greek President Karolos Papoulias at the Pr...
 Conservative opposition party leader Antonis Samaras makes statements to the media after his meeting with Greek President Karolos Papoulias at the Pr...

Greece Financial Crisis

Conservative party opposition leader Antonis Samaras makes statements to the media after his meeting with Greek President Karolos Papoulias at the Pr...

Greece Financial Crisis

Conservative opposition party leader Antonis Samaras makes statements to the media after his meeting with Greek President Karolos Papoulias at the Pr...

Greece's opposition leader on Tuesday rejected a called from European Union officials for more drastic austerity measures that would help the beleaguered Socialist government meet fiscal targets.
Top EU and eurozone officials on Monday said Greece's two largest parties needed to agree on new measures to deal with the debt crisis.
The plea was made after European officials told Athens to increase the pace of privatizations to ease its debt burden. EU officials also acknowledged that they have discussed the possibility of extending the maturity on Greece's outstanding bond repayments, though some officials remain opposed to the idea.
Conservative leader Antonis Samaras called the government's current austerity plan "demonstrably wrong" and "harmful for the country" and that he would not support it or any extra measures. The conservative has in the past backed only small parts of the government program, including its privatization drive.
The austerity measures and punishing fiscal targets are part of a (EURO)110 billion ($155.6 billion) 2010-2013 bailout loan package from European countries and the International Monetary Fund.
Greece remains excluded from raising long-term due due to high interest rates, the result of investors' lack of confidence in the country. It has periodically raised short-term loans in order to keep a presence in the market.
On Tuesday, the country raised (EURO)1.63 billion ($2.3 billion) through a sale of 13-week treasury bills at a lower interest rate than last month.
The public debt management agency said the bills were sold at a yield of 4.06 percent, down slightly from the previous rate of 4.10 percent at an April 19 auction.
The agency says Tuesday's auction was more than three times oversubscribed.


Updated : 2020-12-06 10:46 GMT+08:00