Countrys till will empty by end-November,says Greek PM

Greece has relied on bailouts from increasingly impatient international creditors since May 2010. In return,it imposed a punishing austerity programme,repeatedly slashing incomes,hiking taxes and raising retirement ages. Officials from the European Commission,International Monetary Fund and European Central Bank the troika are currently in Greece assessing the countrys progress in fulfilling the terms for receiving aid. If their report doesnt clear way for the payment of the next 40 billion tranche of the countrys bailout,Greece could be forced to default on debts and perhaps leave the euro.

Merkel to visit Greece next week

Germanys Chancellor Angela Merkel is to visit Greece next week as Athens works to convince its creditors to pay the next installment of its bailout package. Merkels spokesman said the chancellor will meet Prime Minister Antonis Samaras in Athens on Tuesday.