Brussels, 12/10/2012 (Agence Europe) - Government sources in Athens told this newsletter on Friday 12 October that Greece was “close to agreement” with the troika of lenders (the European Commission, the European Central Bank and the International Monetary Fund) on a €13.5 billion package of savings and spending cuts for 2013 and 2014. Some €9 billion of the €13.5 billion of extra savings will be introduced in 2013, higher than the amount initially suggested by the government (€7.8 billion). The European Commission hopes a robust agreement will be reached as soon as possible. Once agreement has been reached, the Greek parliament will then endorse the measures. Another Greek source says that the parliament could give its approval in the next few days.
On Friday evening, the Greek government and the troika were to discuss implementation of 89 priority measures approved in March 2012, laid down by Eurogroup as a precondition for the disbursement of the next instalment of aid (see EUROPE 10706). Euro Commissioner Olli Rehn said it was possible that the next instalment of aid could be released at the November Eurogroup meeting. (EL/transl.fl)