Greece plea 
for more time to make cuts

Jean-Claude Juncker, head of the Eurogroup, the body representing the finance ministers of the 17 eurozone countries, arrived in Athens to meet Mr Samaras yesterday before the Greek premier heads to Berlin to meet chancellor Angela Merkel and on to Paris to see president Francois Hollande.

Greece is dependent on two international rescue loan packages from other eurozone countries and the International Monetary Fund, which are preventing it from bankruptcy and potentially having to leave the euro.

In return, it has had to impose strict austerity measures, including cuts to salaries and pensions and repeated tax hikes. But Athens has faltered in the speed and effectiveness with which it has implemented the reforms, fuelling impatience by its creditors, notably Germany.

The so-called “troika” of debt inspectors that oversee Greece’s bailout program – the European Union, European Central Bank and the IMF – are due in Athens next month to assess and report on how well the country has stuck to the terms of the deal.

Mr Samaras said that while Greece needs more time to restart its economy, this did not necessarily mean it needed more funds.

“Let me be very clear: we are not asking for extra money,” he told Bild newspaper. “We stand by our commitments and the implementation of all requirements. But we must encourage growth, because that reduces the financing gaps.

“All we want is a little ‘air to breathe’ to get the economy going and increase state income,” he added, without specifying any timeframe. “More time does not automatically mean more money.”

Mrs Merkel downplayed expectations of her Friday meeting with Mr Samaras. “We will not find solutions on Friday – we will wait for the troika report. Then the decisions will be made,” she said.