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2/9/12 9:57 AM

Greece
Greece bailout: Coalition fails to agree cuts

Greece - 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.

 

He 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 said.

 

Immediately after the talks ended, Mr 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.

 

Greek Finance Minister Evangelos Venizelos is travelling to Brussels to explain the sticking points of the deal to the Eurogroup.






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