Greek conservatives hope to seal coalition deal

June 20, 2012 by legitgov

Greek conservatives hope to seal coalition deal 20 Jun 2012 Greek conservatives hope to form a coalition government on Wednesday which must persuade mistrustful foreign lenders to allow more leeway in pushing through a deeply unpopular austerity program. Exasperated with Greece's repeated failure to honor its promises on budget cuts and reform, euro zone officials have nevertheless begun to accept the program may be impossible to implement without changes, as the country is already off track and its economy is sliding deeper into recession. One senior euro zone official said trying to enforce the original terms of the 130 billion euro bailout package from the European Union and the International Monetary Fund would mean "signing off on an illusion".