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Finance ministers ‘close’ to deal on Greek bailout cash

European powers reluctant to give Greece some breathing room

EUROZONE ministers claimed today that they were near a solution to avert a fresh crisis over Greek public finances, despite their continued opposition to the government’s attempts to moderate their demands.

“There seems to be a need for more time, but I think we will find a way,” claimed German Finance Minister Wolfgang Schaeuble.

Athens proposed in October to break free completely of financial oversight with a new credit line.

But that would require the previous bailout to be completed and, with a bitter row between the Samaras government and creditors still ongoing, this seems unlikely.

Greece’s parliament passed its budget for 2015 late on Sunday, based on growth and deficit figures that Greece’s “troika” of creditors — the European Commission, European Central Bank and International Monetary Fund — reject as too optimistic.

And the country’s working-class movement also rejects Prime Minister Antonis Samaras’s solution of slightly less harsh austerity measures, including tax rises and yet more cuts.

The budget passed 155 votes to 134 but violent protests outside the building rejected any further cuts, leaving Mr Samaras facing objections from all sides.

Trade unions had organised a massive protest to leave the government in no doubt about their position.

Agreement on the budget is required from the troika lenders in order for Greece to receive the final €1.8 billion (£1.4bn) instalment of its huge bailout.

The payment should be delivered to Greece this month but Mr Samaras, facing a political threat from the resurgent leftist Syriza party, has refused to accept the troika’s terms, delaying the end of the bailout programme.

The Greek government’s austerity measures have forced people to endure multiple tax increases, along with cuts to pensions and pay, in exchange for the bailout loans.

Earlier at the weekend, clashes erupted after about 6,000 protesters marched to commemorate the 2008 police shooting of student Alexandros Grigoropoulos and show solidarity with jailed anarchist Nikos Romanos, who is now on hunger strike demanding he be allowed to attend university classes.

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