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June 29, 2017

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Germany renews pressure on Greek gov't for reforms

BERLIN -- Germany's finance minister on Tuesday renewed his pressure on his Greek counterpart to implement fully Athens' pledges to its creditors ahead of a crucial debt inspectors' report, which set to be presented in October.

Greek Finance Minister Yannis Stournaras informed Germany's Wolfgang Schaeuble at a meeting in Berlin about "Greece's progress in complying with the conditions" of its second bailout, Schaeuble's ministry said in a statement. It said the atmosphere was "friendly and cooperative."

The new coalition government in Athens is drawing up a new program of austerity measures worth some 11.5 billion euros (US$14.5 billion) in cutbacks as it scrambles to satisfy debt inspectors and creditors that it should continue to receive financial aid.

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