Enough 'merciless whipping' of Greece: president

AFP , Tuesday 11 Sep 2012

Greek president says his country has had enough 'merciless whipping' over its fiscal policies and claims the European Union should help out ailing southern eurozone nations

Greek President Carolos Papoulias said on Tuesday, "until now we have sustained a merciless whipping. I think we have paid for our mistakes enough," in statements he made during a meeting with Canada's visiting Senate speaker Noël Kinsella.

"Europe must understand that it needs to help Greece. And not just Greece, but Spain, Portugal and Ireland, to overcome the economic crisis," the 83-year-old former wartime resistance fighter said.

After two years of austerity, Greece is again under pressure to adopt about 11.5 billion euros ($14.7 billion) in new cuts in order to secure continued loan funding from the EU, the IMF and the European Central Bank.

Senior auditors from the three organisations – the so-called 'troika' – are currently locked in talks with the government to finalise the package.

Athens must finalise the package by Friday if it is to present the plan to eurozone partners meeting in Cyprus.

According to reports, the auditors have rejected part of the proposed package, meaning the government will have to come up with around 3.0 billion euros of new measures amid mounting union opposition to another round of austerity.

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