Could Greek cuts deadline be extended?

<p>Greece’s request for its spending cuts deadline to be extended may be granted.</p>

The deadline set by Greece's international lenders for the country to meet specific spending cut targets may be extended.

Even though the so-called troika – the European Union, the European Central Bank and the International Monetary Fund (IMF) – have previously been unyielding in the nation's requests for more time to implement all the austerity measures necessary for it to receive its bailout funding, the IMF leader has indicated it might be able to accommodate the troubled Mediterranean nation.

On Friday (September 17th), head of the IMF Christine Lagarde stated: "The target when it comes to achieving debt sustainability is very high, so there are various ways to adjust. Time is one [option] that needs to be considered."

Greece remains committed to keeping its place in the eurozone, as prime minister Antonis Samaras told the Washington Post over the weekend that a Greek euro exit "would be a catastrophe" and should be avoided at all costs.

At 10:45 BST, the Dax was 0.3 per cent lower to an index value of 7389.2 points and the Cac 40 in France slipped 0.5 per cent to 3560.6 points.

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