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article imageSunday deadline for Greece to agree austerity measures

By Katerina Nikolas     Oct 26, 2012 in World
Athens - Greece's coalition government faces a Sunday deadline over the package of austerity measures it must agree to receive the next bailout tranche of €31.5 billion.
Fotis Kouvelis, leader of the Democratic Left, is the most vocal opponent of the austerity package on the table. Ekathimerini reported Kouvelis continues to object to the labour reforms demanded by Greece's Troika of international creditors. Additionally some PASOK lawmakers have threatened to vote against the proposals.
Kouvelis represents the third party in the coalition government. His refusal to form a coalition government unless members of SYRIZA were represented, following May's elections, resulted in Greece holding a second election at an additional cost of €47.9 million. Kouvelis then agreed to participate in the coalition government, dropping his position regarding SYRIZA. If Kouvelis persists in his objections to labour reforms the government may miss the next bailout tranche, already postponed two months.
Prime Minister Antonis Samaras and Finance Minister Yannis Stournaras are pressing for an agreement to be reached over the weekend to placate the Troika. However, Stournaras prematurely announced this week that Greece had been given more time to implement austerity measures. He was left with international egg on his face when Der Spiegel reported German officials refuted the claim, saying no final decisions will be made until the Troika report is released in mid November.
More about Yannis Stournaras, Fotis Kouvelis, Greek austerity package, troika
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