Greece scraping for 3 bn euros in savings: minister

Page last updated at 13:41 GMT, Tuesday, July 10, 2012 - 18:41 EST

AFP:

Finance Minister Yannis Stournaras, pictured on July 5

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Greece must quickly come up with savings worth three billion euros ($3.68 billion) to keep its accounts in order and remain under EU/IMF financial protection, Finance Minister Yannis Stournaras said on Tuesday.

Greece's European partners have "called for implementation of measures it (Greece) committed to for 2012," Stournaras said in a press briefing handed out on the sidelines of a Brussels meeting with European Union counterparts.

Athens is trying to come up with an short-term solution that would allow it to "cover its needs between now and September" after international loans that have protected Greece from bankruptcy were frozen in May, he added.

"Our first priority is to ensure short-term financing until a first tranche (of aid) worth 31.5 billion euros is released," Stournaras said.

Read the whole story: AFP