Squeeze Greece or find funds yourselves, euro chief warns
A top EU bailout official warned the eurozone Thursday that it must order Greece to make fresh budget cuts or raise more taxes, or eurozone members will have to cough up more cash themselves.
As a new Greek government takes office, the country's second bailout which was stuck in limbo as voters challenged European Union and International Monetary Fund austerity measures in two elections, is «totally off track, months behind schedule,» Thomas Wieser told AFP.
Wieser, head of the key Euro Working Group, said the choice facing currency partners was stark.
Either you «stick to the fiscal targets and then you need additional measures» from Greece, the Brussels-based official said, or you change deadlines, in which case «you need extra money."
Wieser, who chairs preparations for politically-charged meetings of the Eurogroup, said a deal worth 130 billion euros ($165 billion) in new loans agreed in March was no longer workable.
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_21/06/2012_448279
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