Greece wants fiscal balance but no more austerity

[ATHENS] Greece on Thursday asked its EU creditors for six-month loan assistance, pledging to respect fiscal balance but rejecting further austerity, a government source said.

"The government... is not asking for an extension to the memorandum," the source said, referring to the reform agreement between Greece and its EU/ECB/IMF creditors, which lays out Athens' obligations.

In a formal request sent to Brussels, Athens "pledges fiscal balance... and will carry out immediate reforms against tax evasion and corruption," the source said.

The radical left government also intends to take action against the "humanitarian crisis" in Greece, the official said.

The deal is designed to give Athens time to broker a new four-year reform plan with its creditors "without blackmail and shortage of time".

In the new reform blueprint, Greece will include a clause "on the reduction of the (country's) debt", the source said.

AFP