Greece bailout: Coalition fail to agree cuts

[dipsydoodle]

Last edited Thu Feb 9, 2012, 05:26 AM - Edit history (1)

Greek Prime Minister Lucas Papademos has failed to secure the support of his coalition for a raft of new austerity measures, reports say.

He was meeting officials from three parties to try to secure a deal leading to a fresh bailout package.

The main stumbling block in the crunch talks were proposed cuts to supplementary pensions, reports said.

Mr Papademos was said to be going directly to discuss the problem with EU and IMF officials.

http://www.bbc.co.uk/news/world-europe-16958102

Greek minister heads to Brussels with incomplete deal.

(Reuters) - Greek leaders failed on Thursday to agree on reforms and austerity measures, the price of a bailout to avoid a messy default, forcing Finance Minister Evangelos Venizelos to go to the country's financial backers with an incomplete deal.

Euro zone officials say the full package must be agreed with Greece and approved by the EU, European Central Bank and IMF before February 15 so legal paperwork can be completed in time to avoid a chaotic default that could threaten global economic recovery.

But after all-night talks with leaders of the three parties in the Greek coalition and with chief EU and IMF inspectors, Venizelos emerged shortly before dawn to say that one issue was unresolved.

http://uk.reuters.com/article/2012/02/09/uk-greece-idUKTRE8120SU20120209

[Citizen Worker]

1. People in the streets has made a difference, remember that.

[unkachuck]

2. "...has failed to secure the support of his coalition for a raft of new austerity measures..."

....Lucas-boy, no body wants a rigged pro-bankster austerity package....

....go back to printing your own currency and pay the banksters off in paper and free the Greek people and economy from capitalism....

[Johnson20]

4. There probably won't be enough paper,

in the world to print and pay off that debt. I would think the drachma would be worth very, very little.

[BelgianMadCow]

5. the advantage is

Greek people (who are literally starving) are getting by through re-using, recycling and sharing.
In other words, an informal tangible economy not based on consumption (or money).
I have been reading about this, they are doing what OWS is trying to set an example of.

[woo me with science]

6. Yup. nt