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Greek PM Samaras asks Merkel for 'breathing space' | Greek PM Samaras asks Merkel for 'breathing space' |
(about 1 hour later) | |
Greek Prime Minister Antonis Samaras has asked German Chancellor Angela Merkel to give his country "breathing space" following a meeting of the two leaders in Berlin. | Greek Prime Minister Antonis Samaras has asked German Chancellor Angela Merkel to give his country "breathing space" following a meeting of the two leaders in Berlin. |
Mrs Merkel said she would not make "premature judgements" about Greece's progress towards meeting its reform targets in advance of an official report due next month. | Mrs Merkel said she would not make "premature judgements" about Greece's progress towards meeting its reform targets in advance of an official report due next month. |
She said Germany wanted Greece to remain in the eurozone. | She said Germany wanted Greece to remain in the eurozone. |
But it had to meet its reform targets. | But it had to meet its reform targets. |
At a joint news conference, Mr Samaras said: "Greece will stick to its commitments and fulfil its obligations. In fact, this is already happening. | At a joint news conference, Mr Samaras said: "Greece will stick to its commitments and fulfil its obligations. In fact, this is already happening. |
"We're not asking for more money," he said, adding that Greece needed "time to breathe". | "We're not asking for more money," he said, adding that Greece needed "time to breathe". |
The International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission - the group of donor bodies known collectively as the "troika" - are examining whether Greece is making sufficient progress towards reforming its public finances. | The International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission - the group of donor bodies known collectively as the "troika" - are examining whether Greece is making sufficient progress towards reforming its public finances. |
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. |
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. |
Mr Samaras will next travel to France on Saturday for talks with President Francois Hollande. | Mr Samaras will next travel to France on Saturday for talks with President Francois Hollande. |
Volker Kauder, the leader of Mrs Merkel's conservative parliamentary group, told German television 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. | Volker Kauder, the leader of Mrs Merkel's conservative parliamentary group, told German television 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. |
And finance ministry spokesman Martin Kotthaus said a clause in the Greek bailout deal - allowing more time for reform targets in the case of a worse-than-expected recession - was not legally binding. | And finance ministry spokesman Martin Kotthaus said a clause in the Greek bailout deal - allowing more time for reform targets in the case of a worse-than-expected recession - was not legally binding. |
Euro bailout | Euro bailout |
Greece is currently trying to finalise a package of 11.5bn euros ($14.4bn; £9.1bn) of spending cuts over the next two years. | Greece 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. |
Mr Samaras is seeking an extension of up to two years for the necessary reforms, in order to provide Greece with the growth needed to improve its public finances. | Mr Samaras is seeking an extension of up to two years for the necessary reforms, in order to provide Greece with the growth needed to improve its public finances. |
Mrs Merkel has previously said that she and Mr Samaras will not make any decisions on the issue in their talks on Friday. | Mrs Merkel has previously said that she and Mr Samaras will not make any decisions on the issue in their talks on Friday. |
'Necessary efforts' | '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. | 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. | 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". | 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". |
Are you in Greece, Germany or another part of the Eurozone? Do you think Greece should be given more time? Get in touch using the form below. | Are you in Greece, Germany or another part of the Eurozone? Do you think Greece should be given more time? Get in touch using the form below. |