The preliminary report from the so-called "troika" of creditors has
turned up some serious shortcomings in Greece's efforts to implement
reforms, German daily Rheinische Post reported Friday, citing unnamed
government sources.
The troika--made up of the European Central Bank, the European Union
Commission and the International Monetary Fund--found that the Greek
government has failed to fulfill 210 of the 300 budget savings
requirements.
For one, the Greek government's efforts to implement privatization
this year have resulted in only two measures with a volume in the low
two-digit millions of euros, the newspaper said.
Germany is rejecting Greece's request for a two-year delay in its
budget savings targets, the newspaper said. German Chancellor Angela
Merkel has told senior associates that Greece will only have a maximum
delay of a few weeks for implementation of its deficit targets, the
newspaper said, citing sources in the German governing coalition.
Newspaper Web site: http://www.rp-online.de
Write to dennis.baker@dowjones.com
(END) Dow Jones Newswires
July 12, 2012 19:45 ET (23:45 GMT)
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