Brussels, 19/06/2012 (Agence Europe) - On 19 June the chair of the Eurogroup, Jean-Claude Juncker, said Greece may be given more time to introduce reforms as part of the second financial bailout package that the country signed up to in order to get €130 billion earlier this year (see EUROPE 10636). On Austrian radio, Juncker said talks were possible about a change in the terms and conditions, specifically to grant the country more time.
The party that won Sunday's general elections in Greece, New Democracy, is in talks with the Socialist party, PASOK, and the Democratic Left party to form a government. New Democracy and PASOK campaigned on the issue of re-negotiating the Greek memorandum (austerity package) and the idea of introducing the new €11bn-worth of cuts by 2016 rather than 2013/4. The Democratic Left (Dimar) wants the second bailout conditions to be implemented in 2017 at the earliest. The losing opposition party, far left Syriza, rejects the austerity package in its entirety. Like the Greek national independence party, Syriza is refusing to negotiate with New Democracy and PASOK. (MB/transl.fl)