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Greek PM Antonis Samaras to meet Angela Merkel Greek PM Antonis Samaras to meet Angela Merkel
(40 minutes later)
Greek Prime Minister Antonis Samaras will meet German Chancellor Angela Merkel later as he seeks more time for Greece to make spending cuts.Greek Prime Minister Antonis Samaras will meet German Chancellor Angela Merkel later as he seeks more time for Greece to make spending cuts.
He will then travel to France on Saturday for talks with President Francois Hollande.He will then travel to France on Saturday for talks with President Francois Hollande.
Mrs Merkel and Mr Hollande met on Thursday to discuss Greece and urged Athens to stick with the tough reforms.Mrs Merkel and Mr Hollande met on Thursday to discuss Greece and urged Athens to stick with the tough reforms.
The reform targets are a condition of Greece continuing to receive bailout loans.The reform targets are a condition of Greece continuing to receive bailout loans.
The "troika" of donor bodies monitoring the bailout - the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission - are due in Athens next month.The "troika" of donor bodies monitoring the bailout - the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission - are due in Athens next month.
Greece's continued access to the bailout packages depends on a favourable report from the trio.Greece's continued access to the bailout packages depends on a favourable report from the trio.
'Breathing space''Breathing space'
The country is currently trying to finalise a package of 11.5bn euros ($14.4bn; £9.1bn) of spending cuts over the next two years.The country is currently trying to finalise a package of 11.5bn euros ($14.4bn; £9.1bn) of spending cuts over the next two years.
It is also being asked to put in place economic and structural reforms, including changes to the labour market and a renewed privatisation drive.It is also being asked to put in place economic and structural reforms, including changes to the labour market and a renewed privatisation drive.
The measures are needed to qualify for the next 33.5bn-euro instalment of its second 130bn-euro bailout.The measures are needed to qualify for the next 33.5bn-euro instalment of its second 130bn-euro bailout.
Greece needs the funds to make repayments on its debt burden. A default could result in the country leaving the euro.Greece needs the funds to make repayments on its debt burden. A default could result in the country leaving the euro.
In an interview published on Wednesday, Mr Samaras told Germany's biggest daily newspaper, Bild, that his country needed "a little breathing space" in order to kick-start growth and reduce its deficit.In an interview published on Wednesday, Mr Samaras told Germany's biggest daily newspaper, Bild, that his country needed "a little breathing space" in order to kick-start growth and reduce its deficit.
He is seeking an extension of up to two years for the painful steps, in order to provide Greece with the growth needed to improve its public finances.He is seeking an extension of up to two years for the painful steps, in order to provide Greece with the growth needed to improve its public finances.
But although eurozone chief Jean-Claude Juncker has kept the door open for a change to the bailout terms, Germany and France have warned Athens that it should not expect any leeway unless it sticks to the reform targets. Mrs Merkel has previously said that she and Mr Samaras will not make any decisions on the issue in their talks on Friday.
On Thursday, Mrs Merkel said: "For me, it's important that we all stand by our commitments, and in particular await the [publication of] the troika report, to then see what the result is.. 'Necessary efforts'
Although eurozone chief Jean-Claude Juncker has kept the door open for a change to the bailout terms, Germany and France have warned Athens that it should not expect any leeway unless it sticks to the reform targets.
On Thursday, Mrs Merkel said: "For me, it's important that we all stand by our commitments, and in particular await the [publication of] the troika report, to then see what the result is.
"But I will encourage Greece to follow the path of reform, which demands a lot of the Greek people.""But I will encourage Greece to follow the path of reform, which demands a lot of the Greek people."
Mr Hollande said he hoped Greece would remain within the eurozone, but added that "of course Greece must make the necessary efforts for this to happen". Volker Kauder, the leader of Mrs Merkel's conservative parliamentary group, told German television on Friday that neither the terms nor the content of Greece's rescue deal could be renegotiated and that a Greek exit would be no problem for the euro.
France's Mr Hollande has said he hopes Greece will remain within the eurozone, but added that "of course Greece must make the necessary efforts for this to happen".