File photo
Athens:
Greek Prime Minister Antonis Samaras said on Friday that the indebted country has enough money to keep going until mid-November but was confident it would get the next installment of rescue loans soon.
"The country's reserves are only sufficient until November 16," Mr Samaras told a press conference after an EU summit in Brussels, adding that the "blood of the economy, liquidity, is at level zero."
Yet he expressed confidence that the "procedure" to get the next tranche of aid would be completed in the next month and that the country was on a "good path."
Mr Samaras said he "found understanding" in Brussels and that "the climate has changed."
Eurozone leaders on Friday also acknowledged the indebted country's efforts in implementing reforms aimed at getting its economy back on its feet.
"Good progress has been made to bring the adjustment programme back on track," said a statement by the leaders of the 17-nation bloc.
Greece, heading for a sixth straight year of recession, has been relying on rescue loans from the European Union and International Monetary Fund to keep afloat and is negotiating with the so-called troika of auditors representing its international creditors.
The troika's approval of a spending cuts programme amounting to approximately 13.5 billion euros ($17.6 billion) would unlock the next installment of the bailout package, badly needed to recapitalise banks and repay outstanding domestic debts.
The Greek prime minister also confirmed that French President Francois Hollande will be visiting Greece, something that local media had reported earlier in the day.
"I invited Mr. Hollande to Athens and he accepted with great pleasure," said Samaras and added that a date would be "set through diplomatic channels."
Mr Samaras announced that Italian Prime Minister Mario Monti has also accepted an invitation to visit Greece and that a date is expected to be arranged soon.
These visits will follow German Chancellor Angela Merkel's recent trip to Athens, her first in five years, where she praised the progress of Greek reforms and expressed her desire to keep the country in the eurozone.
"The country's reserves are only sufficient until November 16," Mr Samaras told a press conference after an EU summit in Brussels, adding that the "blood of the economy, liquidity, is at level zero."
Yet he expressed confidence that the "procedure" to get the next tranche of aid would be completed in the next month and that the country was on a "good path."
Mr Samaras said he "found understanding" in Brussels and that "the climate has changed."
Eurozone leaders on Friday also acknowledged the indebted country's efforts in implementing reforms aimed at getting its economy back on its feet.
"Good progress has been made to bring the adjustment programme back on track," said a statement by the leaders of the 17-nation bloc.
Greece, heading for a sixth straight year of recession, has been relying on rescue loans from the European Union and International Monetary Fund to keep afloat and is negotiating with the so-called troika of auditors representing its international creditors.
The troika's approval of a spending cuts programme amounting to approximately 13.5 billion euros ($17.6 billion) would unlock the next installment of the bailout package, badly needed to recapitalise banks and repay outstanding domestic debts.
The Greek prime minister also confirmed that French President Francois Hollande will be visiting Greece, something that local media had reported earlier in the day.
"I invited Mr. Hollande to Athens and he accepted with great pleasure," said Samaras and added that a date would be "set through diplomatic channels."
Mr Samaras announced that Italian Prime Minister Mario Monti has also accepted an invitation to visit Greece and that a date is expected to be arranged soon.
These visits will follow German Chancellor Angela Merkel's recent trip to Athens, her first in five years, where she praised the progress of Greek reforms and expressed her desire to keep the country in the eurozone.
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