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Francois Hollande piles pressure on Greek PM Samaras | Francois Hollande piles pressure on Greek PM Samaras |
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French President Francois Hollande has urged Greece to prove it can pass reforms demanded by international creditors, after talks with Greek leader Antonis Samaras. | French President Francois Hollande has urged Greece to prove it can pass reforms demanded by international creditors, after talks with Greek leader Antonis Samaras. |
Mr Samaras has been appealing for more time to introduce the reforms. | Mr Samaras has been appealing for more time to introduce the reforms. |
But Mr Hollande said no further decision could be taken until European ministers consider a major report on Greece's finances, due in September. | But Mr Hollande said no further decision could be taken until European ministers consider a major report on Greece's finances, due in September. |
Donors including the EU insist Greece has to make major spending cuts. | Donors including the EU insist Greece has to make major spending cuts. |
These are needed if Greece is to secure the next tranche of its bailout. | These are needed if Greece is to secure the next tranche of its bailout. |
The BBC's Mark Lowen in Athens says the Greek government is under pressure to win concessions from Europe to placate the tired nation and lessen the likelihood of a destabilising period of social unrest. | The BBC's Mark Lowen in Athens says the Greek government is under pressure to win concessions from Europe to placate the tired nation and lessen the likelihood of a destabilising period of social unrest. |
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. |
In talks with German Chancellor Angela Merkel earlier this week, he was told that the decision would depend on a report from the so-called troika - the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission. | In talks with German Chancellor Angela Merkel earlier this week, he was told that the decision would depend on a report from the so-called troika - the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission. |
Mr Hollande also said Europe needed to consider the report before it could make any further decisions on Greece. | Mr Hollande also said Europe needed to consider the report before it could make any further decisions on Greece. |
He said decisions on whether to grant Greece more time should be taken when European finance ministers meet in early October. | He said decisions on whether to grant Greece more time should be taken when European finance ministers meet in early October. |
"We've been facing this question for two and a half years, there's no time to lose, there are commitments to reaffirm on both sides, decisions to take, and the sooner the better," he said. | "We've been facing this question for two and a half years, there's no time to lose, there are commitments to reaffirm on both sides, decisions to take, and the sooner the better," he said. |
Greece's continued access to the bailout packages depends on a favourable report from the troika. | Greece's continued access to the bailout packages depends on a favourable report from the troika. |
Athens is trying to finalise a package of 11.5bn euros ($14.4bn; £9.1bn) of spending cuts over the next two years. | Athens is 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. |