Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

Did the left-wing inflate turnout figures in round one of the primary?

Read more

ACROSS AFRICA

Dozens killed in attack on military camp in Mali

Read more

THE DEBATE

Splintered left: French Socialists divided ahead of primary run-off (part 1)

Read more

THE DEBATE

Splintered left: Are Europe's Social Democrats obsolete? (part 2)

Read more

EYE ON AFRICA

Gambia: New president says Jammeh has agreed to cede power

Read more

ACROSS AFRICA

France finally grants Senegalese vets citizenship

Read more

THE OBSERVERS

Pollution threatens island paradise of Mauritius, and one Cameroonian expat's quest to bring safe drinking water to his country

Read more

THE INTERVIEW

Publicis boss encourages firms to move staff to Paris post-Brexit

Read more

THE INTERVIEW

'Fake news has had almost no impact on Wikipedia'

Read more

Europe

Europe 'expects' Greece to respect bailout terms

Latest update : 2012-05-07

The European Commission has said that it "hopes and expects that the future government of Greece will respect" its austerity engagements, one day after elections widely seen as a protest at the EU-IMF bailout terms broke the ruling coalition.

AFP - The European Commission said on Monday it expects the next Greek government to respect the terms of a financial rescue after the rise of anti-bailout parties at weekend elections.

"The Commission hopes and expects that the future government of Greece will respect the engagements that Greece has entered into," commission spokeswoman Pia Ahrenkilde Hansen told a news briefing.

Greek conservative leader Antonis Samaras, whose party came on top of Sunday's elections, said he would seek to "amend" the country's controversial EU-IMF loan agreement in order to boost growth.

But the conservatives and Greece's other mainstream party, the Socialists, fell short of an absolute majority in the 300-seat parliament, making it unclear how a new government will be formed.

"It is up to Greek political forces to work in a spirit of responsibility to form a government with a stable majority," said Ahrenkilde Hansen.

She added that the commission stands ready to continue helping Greece implement the unpopular reforms attached to the bailout package, seen as contributing to electoral gains made by neo-Nazi and far-left parties.

"We think that Greece must remain a member of the euro but everybody has to carry its responsibilities," said the European Commission's economic affairs spokesman, Amadeu Altafaj.

Warning that "solidarity is a two-way street," Altafaj called for the "full and timely" implementation of the bailout programme in order to ensure that the massive Greek debt becomes sustainable.

Greece has secured two bailouts of 240 billion euros ($312.2 billion) in return for promises of deep austerity cuts that have already seen pensions and salaries slashed by up to 40 percent.

Athens has already committed to finding in June another 11.5 billion euros ($15 billion) in savings in the next two years. The country is in its fifth year of recession and unemployment is at 40 percent.

Date created : 2012-05-07

  • GREECE

    Greece set for critical vote amid eurozone fears

    Read more

  • GREECE

    Greeks speak out ahead of key legislative elections

    Read more

COMMENT(S)