Greece's lenders recommend giving state 2 more years-newspaper

BERLIN Mon Nov 12, 2012 10:09am EST

BERLIN Nov 12 (Reuters) - Greece's international lenders recommend giving the crisis-stricken country two extra years to implement its reforms due to the dire state of the economy, a German newspaper said on Monday, citing a report by the "troika" inspectors.

The "troika" of the European Commission, the European Central Bank (ECB) and International Monetary Fund (IMF) said Greece would need to implement measures worth some 20.7 billion euros to reach its original financial goals for 2013 and 2014 if it was not granted an extension, Die Welt newspaper said.

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.