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Troika stays to ensure Greece’s coalition agrees on €11.5bn cuts
AUDITORS from the troika, made up of IMF, EU and European Central Bank officials, will remain in Greece to make sure politicians in the embattled Eurozone country agree on the cuts necessary for its aid package.
Greece needs to find €11.5bn (£9bn) worth of cuts to get a €130bn bailout, but the governing coalition is having trouble agreeing on the final €1.5bn of savings, meaning that the troika’s meeting will go on past today.
The two leftist parties in the coalition, Democratic Left and Pasok, have called for an extension until 2016 to implement the austerity demands, but Prime Minister Antonis Samaras believes the government needs to rapidly salvage the country’s credibility.