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Merkel and Hollande to hold talks as Greece pleads for more time

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Angela Merkel and Francois Hollande will meet later this week to decide on whether to ease the terms of Greece’s bailout package after the country yesterday pleaded for more time.

Greek prime minister Antonis Samaras is pushing for two more years to meet the terms of its €130bn bailout.

He added the deadline extention would give the country enough time to reduce its deficit.

In an interview with German newspaper Bild, Samaras said the country stands by its commitments but needs more time to stimulate growth in its economy.

“Let me be very clear: we are not asking for extra money. We stand by our commitments and the implementation of all requirements. But we must encourage growth, because that reduces the financing gaps.

“All we want is a little ‘air to breathe’ to get the economy going and increase state income. More time does not automatically mean more money.”

The German Chancellor and French President will meet Samaras later this week to decide on whether to grant Greece the extension.

Meanwhile, eurogroup leader Jean-Claude Juncker yesterday said he is open to the idea for a change to the bailout terms

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