European Council president rejects Greek debt restructure scenarios (2)

The aim is to raise 23 billion euros (about 33.19 billion U.S. dollars) during 2012-2014, Greek Finance Minister George Papaconstantinou said Tuesday in a Greek parliamentary committee.

Greece seeks a further 50 billion euros (about 72.14 billion U. S. dollars) through a privatization of state-run companies and better management of real estates plan. The government is due to give more details regarding this program also Friday.

The austerity drive and reforms have been met with strong reactions by a part of Greek society over the past year which argues that the burden is unbearable for the weaker social groups.

During talks with Greek President Karolos Papoulias van Rompuy acknowledged the potential impact on social cohesion, while Papoulias thanked him for his support to Greece.

Amidst the upheaval in Arab countries of the Mediterranean Sea, the European Council president and the Greek premier also called on European partners to promote advanced cooperation with these neighboring countries to face the influx of illegal migrants.

Source: Xinhua

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