Sunday, May. 20, 2012 |
Greece seeks more budget cuts to win bailout
Page last updated at 07:33 GMT, Tuesday, February 14, 2012 - 12:33 EST
AFP:
Prime Minister Papademos has six cabinet vacancies to fill after his government was hit with defections last week
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Greece's coalition cabinet was to decide on Tuesday how to plug a 325-million-euro budget hole ahead of a eurozone meeting on a new bailout as data showed the economy shrinking at an alarming rate.
In a cabinet meeting, the government of Prime Minister Lucas Papademos will discuss actions necessary under the new economic programme, his office said.
Athens still needs to find 325 million euros ($429 million) to close the book on tough talks with its rescue partners -- the EU, IMF and the European Central Bank -- on a new eurozone bailout to avert a default in March.
"A decision will be made on where this sum will come from," a finance ministry source said, with the government already eying more spending cuts.
The Greek parliament approved Sunday a series of measures worth 3.2 billion euros in return for fresh aid, but some details still need to be filled in.
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