News Summary: Greece seeks more time for reforms

Published August 22, 2012 6:13pm ET



THE REQUEST: Greece needs more time to implement tough financial reforms and spending cuts, Prime Minister Antonis Samaras says as he starts the first of a series of top-level European meetings to discuss his debt-ridden country’s international bailout.

THE REPLY: Eurogroup head Jean-Claude Juncker says that a potential extension to Greece’s bailout program will depend on a report into the country’s finances by international debt inspectors.

THE TROIKA: The inspectors from the European Commission, European Central Bank and International Monetary fund are due to return to Athens next month to review Athens’ progress on implementing reforms.