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"Greece's last chance - eurozone chief Jean-Claude Juncker
Jean-Claude Juncker: "I personally think ordinary people in Greece have suffered a lot and it would not be advisable to put further demands on them"Eurozone finance chief Jean-Claude Juncker has said the Greek people have to be aware the country is facing its "last chance".
After a meeting with Greek Prime Minister Antonis Samaras, Mr Juncker praised the nation's "tremendous efforts" so far to cut its deficit.But he said "priority number one" was further consolidation of the public finances of Greece.
He added that Athens must put in place economic and structural reforms.
These include changes to the labour market, and the relaunching of privatisation programmes which have been promised but not enacted.
Greek premier Mr Samaras promised that Greece would finalise a package of cuts worth 11.5bn euros ($14bn) in the next few weeks.
The Greek premier wants an extension of up to two years to implement those painful cuts
Antonis Samaras: "We talked about the serious, decisive efforts we are making as a country"
But Mr Juncker, who is also Luxembourg's Prime Minister, said a decision on that would depend on a report from Greece's main lenders, due next month. "I have to underline this will depend on the findings of the troika mission and we have to discuss the length of the period and other dimensions," Mr Juncker told a news conference while sitting alongside Mr Samaras.
'Fruitful' talks The troika of international lenders - the European Central Bank, the International Monetary Fund and the European Commission - will return to Greece next month to assess whether the country is on target to meet the conditions of its bailout.
Mr Samaras said he had also told Mr Juncker that Greece was serious about tackling tax evasion, while at the same time looking to provide security for its citizens.
"I talked to him about the serious, active, measures we are making as a country," Mr Samaras said.He said that the three parties of the ruling coalition were also fully behind the package of cuts being implemented.
The Greek premier also said that his country was "turning the page, economically, politically and socially".
"The meeting was very fruitful," Mr Samaras added. "He [Mr Juncker] was able to update us about... the expectations that Europe has for Greece."
He said as well as Greece's debt, the pair also discussed the availability of finances for Greek businesses, with Mr Samaras saying that small and medium-sized firms in the country were "asphyxiating" because of a lack of funds.
On the wider issue of whether there was a danger of Greece leaving the euro, Mr Samaras said he was "confident that all those betting on a Greek exit - undermining our efforts - will be proven wrong".
"We will prove them wrong through our deeds, not just our words," he added.
And Mr Juncker also said that he was "totally opposed" to a Greek exit from the eurozone.
Welfare spending
Later this week Mr Samaras will also meet Germany's Chancellor Angela Merkel and French President Francois Hollande.
At issue during the week of talks is whether Greece will receive its next instalment of loans worth 31.5bn euros that it needs to avoid defaulting on its vast public debts.Under the terms of the bailout agreement, Greece needs to demonstrate it can find 11.5bn euros in public spending cuts within two years in order to qualify for the money.
There are also reports that due to the worsening state of the economy, which affects tax receipts and welfare spending levels, Greece may now need to find savings of up to 13.5bn euros, 2bn more than thought.
Eurozone leaders have so far resisted any move to soften the bailout conditions, especially in Germany, where the government is under pressure not to make any more concessions.
Endangered Currency
First Greece -- then Ireland, Italy, Spain and Portugal: The European common currency has come under pressure from large national debts and the effects of the global financial crisis, ultimately requiring a rescue package close to a trillion euros.
| News bites @ 5 | |||||
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 1. JUNCKER VISIT Luxembourg's prime minister and Eurogroup head Jean-Claude Juncker will meet on Wednesday evening with Prime Minister Antonis Samaras as part of his brief visit to Athens. The premier is expected to present Juncker with the 13.5bn euro plan and try to gain the Eurogroup head’s support for the government’s fiscal adjustment efforts. The meeting will take place at 5.30pm at the Maximos Mansion and joint statements are expected at 7.30pm. 2. DIPLOMATIC IMPROPRIETY Syriza on Wednesday accused the government of having a hand in eurogroup chief Jean-Claude Juncker's refusal to meet with party leader Alexis Tsipras during the former's brief visit to Athens, and called the refusal a "diplomatic impropriety". Spokesman Panos Skourletis said on NET TV channel that "this decision is the result of pressure and interventions of various circles both on the part of the government and of Mr Poul Thomsen", the IMF chief representative in the troika. 3. AIR TO BREATHE Prime Minister Antonis Samaras on Wednesday made an appeal in Germany's Bild newspaper for more time for the country to meet its borrowing obligations. "All we want is a bit of 'air to breathe' to get the economy running and to increase state income. More time does not automatically mean more money," he said. 4. NO DECISIONS There will be no decisions at Friday's meeting between German Chancellor Angela Merkel and Prime Minister Antonis Samaras, Merkel said during a trip to Moldova on Wednesday. Merkel added she would wait first for the troika report on the country’s progress. The premier will meet with Merkel in Berlin on Friday. 5. LOW COST FLIGHTS A new low cost airline, HellasAirlines, will inaugurate its flights on January 13, 2013. The new airline's base will be the airport of Nea Anchialos, near Volos. The airline will carry out flights to and from Athens, Thessaloniki, Rhodes, Irakleio, Ioannina and Skiathos. Flights to and from Rome, Madrid, London, Paris, Moscow are also foreseen. The ticket price for a return ticket to Athens will be 50 euros, for Irakleio, Crete, 80 euros and for Rome 120 euros. | |||||
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"Hark, hark the dogs do bark
The beggars are coming to town.
Some in rags,
Some in tags
And one in a velvet gown." Traditional rhyme
I have never heard of a "penny stock" that paid off as promised.
I will sign up for medicare. I will declare retirement after age seventy.
The AARP thinks we need to cut spending.
We do not.
We need to tax high incomes.
Management at the phone companies is not being nice.
AT&T: Pay Me, Screw Net Neutrality Huffington Post
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