Greece Must Complete Cuts Package in the Next Week, ANA Reports

Greece’s government must settle on an 11.5 billion-euro ($14.4 billion) package of austerity measures by Sept. 6, as the troika of inspectors representing its international creditors will arrive in Athens Sept. 7, state-run Athens News Agency reported, without citing anyone.

Officials representing the European Central Bank, the European Commission and the International Monetary Fund will stay in Athens until Sept. 13 and then accompany Greek Finance Minister Yannis Stournaras to a working group meeting of European finance ministers in Nicosia, Cyprus, ANA said.

The government’s austerity package for 2013 and 2014 may include cutting Christmas and Easter bonuses for pensioners, abolishing seasonal unemployment benefits for as many as 160,000 employees, cutting wages in state-run companies and reducing subsidies for local governments and state investment projects, the news agency said.

To contact the reporter on this story: Eleni Chrepa in Athens at echrepa@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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