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		</div><p>Greece&#8217;s bailout lenders have been urged to grant the country relief on its massive debts if Athens agrees to impose tougher budget austerity measures.</p>
<p>European Central Bank executive Benoit Coeure said the ECB was <i>&#8220;looking forward to a solution&#8221;</i> on Greek debt. Most of Greece&#8217;s debt is now made up of bailout loans from other eurozone states and the International Monetary Fund.</p>
<p><i>&#8220;All stake holders in the Greek adjustment programme realise that there are serious concerns about the sustainability of the Greek public debt,&#8221;</i> he told a business conference in Athens ahead of a meeting with Prime Minister Alexis Tsipras.</p>
<p>He said that the eurozone countries are discussing a range of possible measures to make Greece&#8217;s debt manageable.</p>
<p>Mr Coeure was joined in Athens by EU Finance Commissioner Pierre Moscovici in an effort to try and overcome the remaining obstacles in the negotiations on austerity measures.</p>
<p>Bailout lenders want Greece to allow more flexible working contracts and drastically scale back protection for troubled mortgages &#8211; with nearly half of Greek bank loans now considered to be non-performing.</p>
<p>But the government fears the measures would deepen the domestic welfare crisis. Years of recession have shrunk the economy by a quarter and roughly doubled the rate of poverty.</p>
<p><i>&#8220;Allow me to make some criticism of the European institutions,&#8221;</i> Finance Minister Euclid Tsakalotos told the Athens conference, while speaking of labour regulation.</p>
<p><i>&#8220;Those institutions should not consider a country that is in a (bailout) programme to have lesser rights. I think it&#8217;s not right, not morally right.&#8221;</i></p>
<p>Greece&#8217;s debt level is set to peak this year at 180.3% of gross domestic product. Currently at 23%, unemployment is slowly declining, due in large part to an increase in low-paid part-time jobs.</p>
<p>A study released last month by Greece&#8217;s largest labour union said 72% of unemployed Greeks have been out of work for more than a year, while the number of households suffering &#8220;serious material deprivation&#8221; has increased from 11.2% before the crisis to 22.2% in 2015.</p>
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