Bureau Chief, Greece & Cyprus
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Feb 15, 2012

Greece battles to salvage bailout package

ATHENS (Reuters) – Greece’s leaders battled to salvage a new 130-billion-euro EU/IMF bailout on Wednesday, rejecting doubts over their commitment to a punishing austerity package just hours before a conference call of euro zone finance ministers.

But with mistrust of Athens high, several EU sources told Reuters that finance officials in the 17-state currency union were studying whether it was possible to delay part or all of the rescue deal while still avoiding a disorderly default – news which pushed safe haven German Bund futures to session highs.

Feb 14, 2012

Greek leaders blow chance of quick EU bailout approval

BRUSSELS/ATHENS, Feb 15 (Reuters) – Euro zone finance
ministers have dropped plans for a special face-to-face meeting
on Wednesday on Greece’s new international bailout, saying
political party chiefs in Athens had failed to provide the
required commitment to reform.

A day before euro zone finance ministers had been due to
meet in Brussels to consider the bailout, the man most likely to
be Greece’s next prime minister had yet to sign a commitment to
implement the austerity measures demanded by the EU and IMF.

Feb 14, 2012

Eurogroup drops face-to-face bailout talks as Greeks argue

BRUSSELS/ATHENS (Reuters) – Euro zone finance ministers dropped plans on Tuesday for a special face-to-face meeting on Greece’s new international bailout, as the cabinet in Athens argued up to the last minute on plugging a 325 million euro ($427 million)gap in its austerity plan.

Ministers in the Eurogroup had been expected to gather in Brussels on Wednesday for a meeting which, if all had gone to plan, would have approved the 130 billion euro rescue and save Greece from a messy bankruptcy next month.

Feb 14, 2012

Greece rushes to meet lender demands, eyes defence cut

ATHENS, Feb 14 (Reuters) – Greece’s government was
considering further cuts to defence spending and public sector
salaries on Tuesday to secure approval for a multi-billion-euro
EU/IMF rescue package, government sources said.

The cuts were on the agenda of a cabinet session chaired by
Prime Minister Lucas Papademos that began at 4 p.m. (1400 GMT).

Feb 14, 2012

Promises, promises… Greece’s history of missed targets

ATHENS, Feb 14 (Reuters) – Greece has a long history
of promising reforms to its creditors and not delivering, and
this time looks set to be no different.

The Greek parliament defied violent street protests and
voted in even more austerity, but fully implementing the
measures is likely to prove an impossible task given acrimonious
political divisions and deep-seated social unrest.

Feb 10, 2012

Greece must back bailout or face catastrophe: Papademos

ATHENS (Reuters) – Greek Prime Minister Lucas Papademos told his turbulent coalition government on Friday to accept a harsh international bailout deal or condemn the nation to catastrophe.

“We cannot allow Greece to go bankrupt,” he told a cabinet meeting. “Our priority is to do whatever it takes to approve the new economic program and proceed with the new loan agreement.”

Feb 3, 2012

A tale of two technocrats: paths diverge for Greece and Italy

ROME/ATHENS (Reuters) – Greek Prime Minister Lucas Papademos and Italy’s Mario Monti were appointed within days of each other last November to replace politicians who took their countries to the brink of financial collapse.

Both sober former economics professors who have helped cement “technocrat” into the lexicon of Europe’s debt crisis, they were rushed in to head emergency governments as fears grew that the entire euro project was heading for a train wreck.

Jan 27, 2012

Exclusive: Greek PM Papademos expects debt swap deal in days

ATHENS (Reuters) – Greece expects to conclude difficult debt talks with private creditors within days and negotiations with the EU and the IMF on a new bailout deal by the middle of next week, Prime Minister Lucas Papademos told Reuters on Friday.

Speaking at his neo-classical office shortly before resuming talks with bankers on a bond swap deal that is key to saving the euro zone member from bankruptcy, Papademos said: “Greece will not default.”

Jan 27, 2012

Greek PM expects debt swap deal in days

ATHENS, Jan 27 (Reuters) – Greece expects to conclude
difficult debt talks with private creditors within days and
negotiations with the EU and the IMF on a new bailout deal by
the middle of next week, Prime Minister Lucas Papademos told
Reuters on Friday.

Speaking at his neo-classical office shortly before resuming
talks with bankers on a bond swap deal that is key to saving the
euro zone member from bankruptcy, Papademos said: “Greece will
not default.”

Jan 27, 2012

EU, IMF press Greece on reforms, Rehn upbeat on debt

ATHENS (Reuters) – Greece expects to conclude difficult debt talks with private creditors within days and negotiations with the EU and the IMF on a new bailout deal by the middle of next week, Prime Minister Lucas Papademos told Reuters on Friday.

Speaking at his neo-classical office shortly before resuming talks with bankers on a bond swap deal that is key to saving the euro zone member from bankruptcy, Papademos said: “Greece will not default.”

    • About Dina

      "Based in Athens, in charge of text, pictures and TV teams covering Greece and Cyprus since 2005. Previously based in Bucharest, in charge of Romania and Bulgaria."
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