New Greece Cabinet Requests Austerity Deferral

Finance | June 23, 2012, Saturday // 15:33|  views

New Greek Prime Minister Antonis Samaras (3-L) is accompanied by members of his government team as they arrive for the first meeting of the new Greek cabinet in the Parliament building in Athens, Greece, on 21 June 2012. EPA/BGNES

The new Greek coalition cabinet led by PM Antonis Samaras has asked for a delay to the full imposition of austerity measures to satisfy Greece's bailout plan.

In an official document published Saturday, the government asks the EU and IMF to defer for 2 more years the requirement for such as the laying off of public servants.

As a whole, Greece's goverment has stated it hopes that a revision of the bailout plan will allow to delay "for at least two years" (i.e. until 2016) the reforms leading to budget revisions.

The new Greek coalition cabinet, comprising Samaras' rightist New Democracy, traditional leftists PASOK and smaller Democratic Left, was announced Thursday, following crucial general elections last Sunday.

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Tags: greece, Greek, austerity, Antonis Samaras, New Democracy, PASOK, Democratic Left, bailout, austerity, IMF, EU


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