A set of talks aimed at solving the euro crisis start today in Athens with the visit of the head of the Eurozone group finance ministers, the Luxembourg prime minister Jean-Claude Juncker.
Steven Bell, chief economist at the investment firm GLC, says Greece has "extraordinary" austerity measures to implement.
"No government can survive if they have this pace of austerity," he told the Today programme, "the extra two years are absolutely needed".
"What matters is not Greece itself... it's the effect on other countries," he said.
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