No room for Greek error to keep loan
ATHENS: Greece can afford no delay to a painful shakeup of its debt-burdened economy in order to maintain a loan lifeline from the EU and the International Monetary Fund that keeps the country afloat, the Greek finance minister said Sunday. "We cannot afford to lag behind (with reforms), not only in the next trimester but in any trimester," George Papaconstantinou told To Vima newspaper in an interview.
"Not only because we endanger the country's financing but mainly because the country and society allow no more time for delay in doing what is necessary to overcome the current deadlock," he said.
Greece has committed itself to drastic reforms and cutbacks in its overblown state sector in return for a 110-billion-euro (148-billion-dollar) EU-IMF loan that saved it from bankruptcy earlier this year. -PB News