Greek leaders delay austerity decisions

Greece’s ruling politicians have delayed a decision on almost 12 billion euros worth of spending cuts demanded as a condition for its latest bailout.

An initial round of talks among coalition leaders on Wednesday failed to reach agreement and they will meet again next week.

The leader of the socialist party, Evangelos Venizelos, tried to reassure austerity weary Greeks saying:“There will be no new further measures. We’ll implement the laws and the budget itself, as it was last amended in March, so all the foreseen measures will be implemented with the utmost consideration for social sensitivity.”

The three party leaders are each keen to avoid appearing in favour of cuts that heap more misery on the near bankrupt country’s people.

They are trying to identify budget savings over the next two years before European Union and IMF officials visit next week and decide whether Athens has done enough to get more bailout money.

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