Dutch Labor Party wants to give Greece more time on targets

The Dutch Labor Party is willing to give Greece more time to meet its fiscal targets and repay debt, a position that contrasts with the Liberal Party of Prime Minister Mark Rutte with which it is trying to form a government.

?We need to wait on the advice of the troika,? Ronald Plasterk, a Labor lawmaker, told parliament in The Hague Thursday. ?Maybe we can give Greece more time and roll over debt to make sure the country?s position becomes more sustainable.?

The Liberal and Labor parties, the two largest groups in parliament after Sept. 12 elections, started negotiations on the formation of a new government on Sept. 21. Rutte has said he?s not willing to give Greece more time to implement its reforms nor would he back a third aid package for the country.

International Monetary Fund Managing Director Christine Lagarde said Thursday Greece should get two years to meet fiscal targets and suggested debt reductions are needed before a 130 billion-euro ($167 billion) bailout can proceed. European leaders will probably discuss Greece at a summit starting Oct. 18 in Brussels. [Bloomberg]