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FACTDROP: Morning Brief: Greece fails to agree to new budget cuts


Morning Brief: Greece fails to agree to new budget cuts

Πηγή: FP
By David Kenner 
Feb 9 2012

Top story: Greek Prime Minister Lucas Papademos announced that his coalition had failed to agree to a series of new austerity measures. The three parties met for seven hours, but reportedly could not reach a deal on new pension cuts.

Immediately after the meeting with his coalition partners ended, Papademos met with representatives of the European Union, the European Central Bank, and the International Monetary Fund to discuss a new bailout package for Greece. The group announced its intentions to conclude an agreement before euro zone finance ministers meet on Thursday.

The pension cuts, which were reportedly included in a draft agreement between Greece's bailout partners and Papademos, represent the main stumbling block. According to reports published in the Greek press, the new measures requested by Greece's creditors would slash over $4 billion from the budget.

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