Greece should get more time, France says

Greece received an unexpected boost on the 23 September 2012 when the French prime minister gave explicit backing to unofficial requests to creditors for an extension to its 2013-14 austerity programme.

Jean-Marc Ayrault’s call for Athens to be offered a breathing space to complete fiscal and structural reforms came as finance ministry officials struggled to identify €1.5bn of alternative spending cuts after the 'troika' of creditors rejected previous proposals as 'too soft', according to a senior government official.

EurActiv reported on the 24 September 2012 that the Troika (EC/ECB/IMF) report into whether Greece's debt was manageable looked set to be delayed until after 6 November 2012 because policymakers wanted to avoid any shock to the global economy before the US election.

• Primary Source

ESO: Key source: The Greek Debt Crisis http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

ESO: Background information: Troika considering second debt restructuring for Greece http://www.europeansources.info/record/report-troika-considering-second-debt-restructuring-for-greece/

EurActiv, 24.9.12: Troika report on Greece may come after US vote http://www.euractiv.com/euro-finance/troika-report-greece-may-come-us-news-514960

Kathimerini, 24.9.12: Greece insists 13.5 bln will close budget gap, as IMF hardens stance http://ekathimerini.com/4dcgi/_w_articles_wsite1_4239_24/09/2012_462725

Kathimerini, 1.10.12: Samaras, Stournaras to resume talks in Athens with the troika http://ekathimerini.com/4dcgi/_w_articles_wsite1_1089_01/10/2012_463852

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