Gov't Coalition Locks "Basic Agreement" On Austerity

Antonis Samaras (Photo credit: Wikipedia)

News reports are saying that Finance Minister Yannis Stournaras believes that the leaders of the three parties in the governing coalition have finally reached a "basic agreement" on an austerity package for the period 2013-14.

The meeting between Prime Minister Antonis Samaras and the heads of the two coalition parties came a day after more than 50,000 anti-austerity protesters took to the streets of Athens in a nation-wide strike. It was unclear whether there would be a further meeting between the three.

Once they finalize a deal, the measures will be presented to Greece΄s debt inspectors, whose approval is key for the country to receive the next installment of bailout loans. (capital)