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Thursday, August 16, 2012

Germany stands firm on Greek bail-out demands


A meeting between German Chancellor Angela Merkel and Antonis Samaras, Greece's prime minister next Friday will put "everything onto the table," said Steffan Siebert.

However, he added that the German government stood by the Greek memorandum of understanding as written. "The German position, which is a European position, is based on the memorandum of understanding, which is the foundation," he said.

On Tuesday, the Financial Times reported that Mr Samaras would formally ask for a two-year extension to implement austerity measures.

Evangelos Venizelos, Greece's former finance minister and leader of the socialist PASOK party had previously called for a three year extension that would provide a "realistic framework" for the country's reform efforts. "We are heading into deep water," he said in July.

Mr Siebert said that the German Chancellor would "certainly listen to what Mr Samaras has to say about the situation in Greece and the implementation of the program."

The Telegraph

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