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Greece struggles to meet lenders demands

Monday, November 18, 2013 - 01:47

Nov. 18 - Representatives of the EU and IMF return to negotiate economic reforms with Greece a day after tens of thousands took to the streets in protest. Hayley Platt looks at the increasing problems facing the troika and the government.

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The message from Greeks to their government is clear. This march was supposed to mark the anniversary of a student revolt in 1973. Instead it became an anti-austerity rally attended by tens of thousands. One person was slightly hurt and more than 100 arrested. Protestors were back again the next day as officials from the EU, IMF and ECB continued talks. 'We will be on the streets for as long as it takes," they shout. They used to have government jobs as cleaners. (SOUNDBITE) (Greek) PROTESTING CLEANING LADY, KATERINA KAPODISTRIA, AGED 59, SAYING: "It's very difficult. Who can bear any more new measures? We have already been fired, how are we going to pay new taxes?" Greece has been kept afloat for the past three years by a series of loans from the euro zone and IMF. It needs the troika's approval before it can get the next 6 billion euro instalment. In order to get that it needs to find a further two billion euros of savings. And that - says IHS's Jan Randolph - means proving it's genuine about reform. SOUNDBITE: Jan Randolph, Director of Sovereign Risk Analysis, IHS Global Insight, saying (English): "The fundamental solution to the Greek problem is it really comes down to can this economy function within the euro zone in a competitive way and that's true for all euro zone economies." Greece's coalition government doesn't want to impose any more measures on the public. It believes it deserves some slack after making the biggest budget deficit reduction ever seen in the euro zone. But negotiations are proving difficult and time is running out - Greece will run out of money early in the new year.

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Greece struggles to meet lenders demands

Monday, November 18, 2013 - 01:47