Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

Barack Obama under fire over $400,000 paid speaking gig

Read more

IN THE PAPERS

The brilliant student and the party-girl: Macron and Le Pen's polar opposite childhoods

Read more

EYE ON AFRICA

Hissene Habré trial: Senegal court upholds life sentence for Chad's ex-leader

Read more

MEDIAWATCH

Trump's First 100 Days - Simpsons Style

Read more

THE DEBATE

The New Normal: Trump's first 100 days in office (part 1)

Read more

THE DEBATE

The New Normal: Trump's first 100 days in office (part 2)

Read more

THE CAMPAIGN BEAT

High school students make their voice heard while Marine goes fishing

Read more

FOCUS

Burma's citizens still jailed for speaking their minds

Read more

INSIDE THE AMERICAS

Colombia: FARC disarmament leads to baby boom

Read more

Europe

IMF warns Greece that more action is needed on debt

Text by News Wires

Latest update : 2011-09-19

The IMF told Greece on Monday that "additional measures" were required to reduce its budget deficit ahead of an urgent consultation with the EU and the country's finance minister, Evangelos Venizelos (pictured), on more rescue funds.

AFP - Greece will have to do more to cut its budget deficit, the International Monetary Fund warned on Monday as the IMF and EU headed for a crisis teleconference with the Greek finance minister.

"Additional measures will be needed in order to reduce the budget deficit," the IMF representative to Greece Bob Traa said at a symposium in this seaside resort near Athens in the presence of the Greek Finance Minister Evangelos Venizelos.

Speaking at a conference between the IMF and Greek business leaders organised by The Economist magazine, he said that Greece should launch urgent reforms of its tax administration and warned the government against constantly raising taxes.

Is a Greek default an option?

His remarks came shortly before a teleconference between the minister and auditors from the eurozone and IMF who have yet to decide whether Greece has repaired broken promises enough to warrant the release of rescue funds urgently to avoid bankruptcy early next month.

The teleconference is to be held at 1200 GMT, and Venizelos said on Sunday that it would be followed by a ministerial meeting to decide on new concrete budget measures.
 

Date created : 2011-09-19

  • GREECE

    Greek PM cancels US trip ahead of crucial week

    Read more

  • GREECE

    Germany, France say Greece 'integral' to eurozone

    Read more

  • GREECE

    Greece unveils €2 billion in cuts to secure EU/IMF bailout

    Read more

COMMENT(S)