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Greece seeks to finalise $14 bn spending cuts

Greece's finance officials are seeking to finalise about $14.1 billion in spending cuts, necessary for it to continue receiving the international funding protecting it from bankruptcy.

twitter-logo Associated Press   Athens     Last Updated: August 20, 2012  | 00:00 IST

Greece's finance officials are seeking to finalise Euro 11.5 billion (about $14.1 billion) in spending cuts, necessary for it to continue receiving the international funding that is protecting it from bankruptcy.

Finance Minister Yannis Stournaras was meeting with his deputy ministers and Labor Minister Yannis Vroutsis on Monday to hammer out the measures ahead of a series of top-level meetings Prime Minister Antonis Samaras will have later in the week.

Luxembourg Prime Minister Jean-Claude Juncker, who chairs the Eurozone finance ministers' meetings, heads to Athens on Wednesday for talks with Samaras.

The Greek prime minister then holds talks with German Chancellor Angela Merkel and French President Francois Hollande in visits to Berlin and Paris on Friday and Saturday.

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