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Greeks want 2-year extension on bailout

2012-06-21 5 Dailymotion

Greece's new government is asking lenders for more time.<br/> <br />Greece says it needs two more years to meet the terms of the international bailout that is keeping the country from bankruptcy.<br/> <br />The government will also seek to extend unemployment benefits and limit public sector layoffs.<br/> <br />But analysts warn that it will be no easy task.<br/> <br />(SOUNDBITE) (English) THANOS VEREMIS, POLITICAL HISTORY PROFESSOR FROM THE HELLENIC FOUNDATION FOR EUROPEAN AND FOREIGN POLICY SAYING:<br/> <br />"We are already out of time. I mean these 40 days, or whatever it was between elections, have decimated the public sector, I mean it's not working. It will take a Herculean task to put it back in operation again."<br/> <br />The conservative New Democracy party won the most seats in the new parliament on a promise to push through spending cuts imposed by European authorities.<br/> <br />But after the vote, party chief Antonis Samaras said the euro zone's memorandum of understanding with Greece should be modified.<br/> <br />European Union finance ministers are to meet in Luxembourg on Thursday to discuss Greece and the European debt crisis.<br/> <br />Sarah Sheffer, Reuters

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