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Greek Budget Showdown Looms

Government tries to find common ground on austerity and gain support of international lenders.

By Maria Petrakis, Bloomberg | Updated on September 05, 2012

Greek Prime Minister Antonis Samaras faces a week of wrangling as his coalition government tries to find common ground on two more years of austerity to persuade international lenders to keep the country in the euro.

Inspectors from the European Commission, European Central Bank and International Monetary Fund, known as the troika, are due back in Athens on Sept. 7 to complete a review begun in July. They are likely to find that the three coalition partners are still working on an 11.5 billion-euro ($14.5 billion) blueprint that may test the cohesion of Samaras’s government.

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