Greece resumes debt talks with inspectors

AP News
Posted: Aug 02, 2012 9:10 AM
Greece resumes debt talks with inspectors

ATHENS, Greece (AP) — Greece's coalition government has resumed austerity negotiations with international debt inspectors, after narrowly avoiding a political crisis that officials said had threatened the country's future in the eurozone.

Inspectors from the European Union, European Central Bank, and the International Monetary Fund held talks Thursday at the Finance Ministry on the €11.5 billion (14.1 billion) austerity package for 2013-14 that is due to be finalized later this month.

Leaders of three parties in the six-week-old coalition on Wednesday dodged a political crisis by agreeing to not delay any of the proposed cuts. Finance Minister Yannis Stournaras said the agreement to make the cuts up front was a "necessary condition" for Greece to remain in the euro.