Greece faces crucial week ahead of Eurogroup talks

Greece is facing a crucial week as Finance Minister Yannis Stournaras prepares to meet with Eurogroup representatives in Luxembourg today. Stournaras faces the tough job of convincing his colleagues that a deal with the Troika (European Union, International Monetary Fund, European Central Bank) is in the pipeline. Prime Minister Antonis Samaras' meeting with Angela Merkel in Athens tomorrow, meanwhile, is crucial in terms of securing political support. Samaras is hoping for a solution to the crisis before the next European Summit on 18 October and will tackle the big issues with the Chancellor: an extension on the period of economic recovery; a reduction in interest rates, and, if necessary, further debt cuts. According to business daily Kerdos, Samaras will reaffirm that Greece will fulfill its commitments, and will also underline the government's significant results on the road to reform. But he is also likely to flag-up the strain his country is under both democratically and socially as a result of economic sacrifices, a lengthy recession and high levels of unemployment.