Germany Stands Firm on Greek Bail-Out Demands

The German government stands by demands made by international creditors in return for Greece’s bail-out, Angela Merkel’s spokesman said on Wednesday.

by Telegraph staff and agencies
Telegraph.co.uk

A meeting between German Chancellor Angela Merkel and Antonis Samaras, Greece’s prime minister next Friday will put “everything onto the table,” said Steffan Siebert.

However, he added that the German government stood by the Greek memorandum of understanding as written. “The German position, which is a European position, is based on the memorandum of understanding, which is the foundation,” he said.

On Tuesday, the Financial Times reported that Mr Samaras would formally ask for a two-year extension to implement austerity measures.

Evangelos Venizelos, Greece’s former finance minister and leader of the socialist PASOK party had previously called for a three year extension that would provide a “realistic framework” for the country’s reform efforts. “We are heading into deep water,” he said in July.

Continue Reading at Telegraph.co.uk…

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