Greece Dismisses Plan for Getting a Better Bailout Deal – FT

Greek finance minister, Yannis Stournaras

Greece has given up on a plan to modify the terms of its bailout agreement until the government passes more reforms, the Financial Times reports.
Greek finance minister, Yannis Stournaras, said the governing coalition would have to accelerate reforms before asking for modifications in the €174 billion program agreed in February with the Troika.

“The programme is off-track and we can’t ask for anything from our creditors before we get it back on course,” Mr Stournaras told the Financial Times.

Earlier, Greece’s socialist party called for renegotiation of the country’s loan terms as international inspectors visited Athens to assess progress in its bailout commitments. Evangelos Venizelos, leader of the Pasok party said that “it must be taken very seriously into account the fact that the recession this year, unfortunately, will be deeper than the forecasts, and the unemployment rate, unfortunately, higher.”
(source: nasdaq)