Greece's Creditors Weigh Extra Austerity Measures to Break Deadlock

Greece's Creditors Weigh Extra Austerity Measures to Break Deadlock

17 April 2016, 10:20
Francis Dogbe
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Greece's creditors are considering seeking extra austerity measures that would be triggered if Athens misses its fiscal targets, in a bid to bridge differences between Europe and the International Monetary Fund and break a deadlock threatening to unravel the Greek bailout. Under the proposal, say officials involved in the discussions, Greece would have to sign up to so-called contingency measures of up to about EUR3 billion, on top of the package of about EUR5 billion in tax increases and spending cuts Greece and its lenders are already negotiating. The idea, which has support from the eurozone's dominant power Germany, ... READ MORE
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