Greek leaders agree bulk of austerity cuts - source

Source: Reuters

(Reuters) - Political leaders in Greece have agreed on most of the austerity measures demanded by its creditors and are now eyeing pension and wage cuts to find the final 1.5 billion euros of savings still needed, a source close to the talks said on Sunday.

Greece must find savings worth 11.5 billion euros for 2013 and 2014 to satisfy its increasingly impatient lenders who are currently on a visit to Athens to evaluate the country's progress in complying with the terms of its latest bailout.

Prime Minister Antonis Samaras's government last week managed to draw up a list of measures to achieve those savings, but the three parties in his conservative-led administration failed to agree on them, and are to due to resume talks on Monday.

"The political leaders don't disagree on anything, there are just alternative proposals being discussed to protect those with low pensions or incomes in the public sector," said the source, who is involved in the talks. "We need measures worth 1.5 billion euros to finalise the 11.5 billion euro package."

Read more: http://uk.reuters.com/article/2012/07/29/uk-greece-crisis-idUKBRE86S03720120729