Greek PM calls for speedier reforms; new bailout looms

Greek Prime Minister Antonis Samaras called on his government on Monday to speed up the rate of austerity reforms as the country admitted that it may need a new bailout of 10 billion euros (13.3 billion dollars), DPA reported. Inspectors from the troika are expected to travel to Athens at the beginning of September to determine whether the government is able to generate the revenue needed to meet its 2015-2016 budget targets. On Sunday, Finance Minister Yannis Stournaras told Greek newspaper Proto Thema that the country may require further economic support in 2014, but that it would consist of a considerably smaller package than the previous two international bailouts. "If there is a need for further support to Greece, it will be in the amount of about 10 billion euros, or smaller than the previous programmes," Stournaras was quoted as saying.