Thursday, February 9, 2012

Greece coalition fails to agree cuts

Greek PM Lucas Papademos has failed to secure the support of his coalition for a raft of new austerity measures, after more than seven hours of talks, BBC News reported.

Papademos met officials from three parties to try to secure a deal leading to a fresh bailout package.

The main stumbling block was proposed pension cuts, reports suggested.

Immediately after the talks ended, Papademos held a meeting with officials from the “troika” of bailout creditors which broke up after several hours.

A statement issued by the prime minister’s office said the aim of the meeting with the troika – representatives from the European Union, the European Central Bank and the International Monetary Fund – was to “conclude the agreement” before Thursday’s meeting of eurozone finance ministers.

Armenian News

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