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    Eurogroup teleconference to discuss Greek bailout

    Associated Press – Sat, Feb 4, 2012

    ATHENS, Greece (AP) — Greek Finance minister Evangelos Venizelos and his eurozone colleagues are to discuss by teleconference the terms of a second multibillion-euro bailout, with talks with international creditors at a critical point.

    The teleconference will begin at 2:30 p.m. local time (1230 GMT; 7:30 a.m. EST) Saturday, a spokesman for Venizelos confirmed.

    Greece's international creditors — the EU and the International Monetary Fund — insist on painful wage cuts and cuts in the size of the public sector, including in the armed and security forces and public school teachers, categories that had been exempt so far.

    The meeting of the three party leaders that support the coalition government under Lucas Papademos has been postponed to Sunday. It is unclear when talks with the creditors' representatives will resume.

     

    2 comments

    • comment_hidden_due_to_low ...
      comment_hidden_due_to_low ...  •  Pleasanton, California  •  3 mths ago
      Germany has finally destroyed Greece. Only took them 70 years.
    • DanteH
      DanteH  •  Hong Kong, Hong Kong  •  3 mths ago
      I wonder how that will will go..."uh yah, we need like $20B more...." "So you think that will be enough to last you for a while? Will it be enough to pay all you owe and spark a recovery in your country?" "....uh, no, the bailout money will last til next Tuesday, after that we will ask for more...."
      Its a farce! Greece, step up and take pride in your country! You don't need the Euro, go back to being a boutique little country, with your quirky ways, drink ouzo til the sun goes down. Cause when you wake up, you will realize that you will be happier, and I would say on the road to recovery.
     Post a comment
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