Tuesday Jul 03, 201212:37 PM GMT
Greek officials meet ahead of crucial audit by international debt inspectors
Greece
Greece's new Prime Minister Antonis Samaras arrives for the government's first cabinet meeting at the Greek parliament in Athens on June 21, 2012.
Tue Jul 3, 2012 12:23PM
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Newly elected Greek Prime Minister Antonis Samaras have met with the country’s ministers and allies to discuss the upcoming visit of Greece’s international debt inspectors to the cash-stripped state.


During the meeting which came ahead of an important creditor audit, Samaras held talks with leaders of socialist and moderate leftist parties on Monday.

According to officials, Greece’s new conservative-led coalition is set to present its policy statement to the parliament on Thursday or Friday as the government has announced plans to renegotiate the terms of the country’s international bailout with the European Union (EU), International Monetary Fund (IMF) and the European Central Bank (ECB) -- the trio known as the troika.

This is while several high-ranking European officials believe that there is little room for renegotiations as they say Athens is behind schedule in implementing economic reforms.

The debt inspectors from troika are slated to assess Greece’s overall progress in carrying out structural reforms that are part of the EU-IMF bailout package.

Greece has been at the epicenter of the eurozone debt crisis and is experiencing its fifth year of recession because of the government-introduced harsh austerity measures, which have left about half a million people without jobs over the past years.

One in every five Greek workers is currently unemployed, banks are in a shaky position, and pensions and salaries have been slashed by up to 40 percent.

Greek youths have also been badly affected and more than half of them are unemployed.

MR/JR
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