'Final agreement' in Greece on austerity measures reached, source says
ATHENS - A "final agreement" has been reached among Greek political leaders on additional austerity measures demanded by EU-IMF creditors in return for a loan bailout, a government source said on Thursday.
"There is a final agreement on the measures," the source told AFP as eurozone ministers waited in Brussels to decide on the bailout worth 130 billion euros ($171 billion) that officials have labored since October to finalize.
Speaking in Frankfurt, European Central Bank chairman Mario Draghi said the ECB had been informed that a deal had been reached on the requested austerity measures.
Marathon talks between the socialist, conservative and far-right party leaders backing Prime Minister Lucas Papademos' interim government early on Thursday ended with agreement on most of the measures demanded to make up a budget deficit shortage of around three billion euros.
But officials could not agree on how to cover a 625 million euros gap in the deal, raising the daunting prospect that pensions would have to be cut in the midst of a biting recession to make up the shortfall. — Agence France Presse
"There is a final agreement on the measures," the source told AFP as eurozone ministers waited in Brussels to decide on the bailout worth 130 billion euros ($171 billion) that officials have labored since October to finalize.
Speaking in Frankfurt, European Central Bank chairman Mario Draghi said the ECB had been informed that a deal had been reached on the requested austerity measures.
Marathon talks between the socialist, conservative and far-right party leaders backing Prime Minister Lucas Papademos' interim government early on Thursday ended with agreement on most of the measures demanded to make up a budget deficit shortage of around three billion euros.
But officials could not agree on how to cover a 625 million euros gap in the deal, raising the daunting prospect that pensions would have to be cut in the midst of a biting recession to make up the shortfall. — Agence France Presse
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