ATHENS, Greece — Greek Finance Minister Yannis Stournaras says the heads of the three parties in the governing coalition have reached a "basic agreement" Thursday on an austerity package for 2013-14.

The cuts are essential if Greece is to continue receiving funds from international emergency loans.

The meeting between Prime Minister Antonis Samaras and the heads of the two junior coalition parties came a day after more than 50,000 anti-austerity protesters took to the streets of Athens.

It was unclear whether there would be a further meeting between the three. Once they finalize a deal, the measures will be presented to Greece's debt inspectors, whose approval is key for the country to receive the next installment of bailout loans.