Wednesday April 23, 2014 Search
Weather | Athens
23o C
15o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
All on the line for Papademos ahead of talks with leaders

Prime Minister Lucas Papademos is preparing for a make or break meeting with Greek political leaders amid unconfirmed reports that he is considering resigning if the three parties in his coalition government cannot agree on the set of reforms Greece should adopt so it can qualify for more loans.

Papademos is expected to meet PASOKs George Papandreou, New Democracys Antonis Samaras and Giorgos Karatzaferis of the Popular Orthodox Rally (LAOS) on Saturday. The three politicians will have to agree on measures that will satisfy Greeces lenders and pave the way for a new bailout.

However, a number of sticking points remain. One of the main issues on which the party leaders are finding it difficult to agree is the private sector wage reductions that are being demanded by the troika of the European Commission, European Central Bank and International Monetary Fund.

Sources told Kathimerini that the troika is demanding that the minimum wage of 751 euros per month (gross) be reduced and that labor costs in the private sector drop by 25 percent in a bid to help Greece regain competitiveness.

Labor unions and employers wrote to Papademos on Friday to inform him that they cannot agree on a wage cut.

Papademos needs the agreement of the political leaders so the prospect of Greece receiving a new bailout can be discussed at the meeting of eurozone finance ministers on Monday.

Greece will have to set out the measures it plans to take over the next two years to reform its economy and create a primary budget surplus as well as the framework for the debt restructuring agreement with its bondholders.

Skai TV and radio reported on Friday that should the leaders fail to agree a deal, Papademos will tender his resignation on Monday.

Speaking to Bloomberg, government spokesman Pantelis Kapsis denied that Papademos is considering quitting.

ekathimerini.com , Friday February 3, 2012 (17:19)  
Woman dies after falling off regional ity building
Tunisian sought over employment scam
FBI seeks to identify victims of suspected US child molester who worked abroad, including Greece
Tunnel boring for Thessaloniki metro to resume after two years of inactivity
Greece meets budget target for more debt relief from creditors
Greece met the budget goal set by its euro-area partners as a condition for talks on further debt relief. The government of Prime Minister Antonis Samaras recorded a primary budget surplus, ...
Greece sees 2013 primary budget surplus at 1.5 bln euros, says deputy finance minister
Greece's general government primary surplus last year, as calculated by the country's international lenders, is estimated at 1.5 billion euros ($2.07 billion), Greece's deputy finance minist...
Inside Business
BASKETBALL
Reds and Greens stay alive in Euroleague
Easter and home advantage worked wonders for Panathinaikos and Olympiakos who stayed alive in the Euroleague play-offs beating CSKA and Real Madrid respectively on Monday in Greece. Shak...
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
Inside Sports
COMMENTARY
Its too soon for Europe to declare victory
There was a time not so long ago when the vast majority of experts agreed that a country could not emerge decisively from a financial crisis unless it solved problems of both stocks and f...
COMMENTARY
Realitys other side
There is plenty of evidence pointing to the fact that the countrys real economy has hit rock bottom and is currently entering a phase of growth. Those who know the market well tend to suppo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greece meets budget target for more debt relief from creditors
2. Woman dies after falling off regional ity building
3. Greece sees 2013 primary budget surplus at 1.5 bln euros, says deputy finance minister
4. Greek debt swells again as Samaras looks to creditors for relief
5. Tunisian sought over employment scam
6. FBI seeks to identify victims of suspected US child molester who worked abroad, including Greece
more news
Today
This Week
1. FBI seeks to identify victims of suspected US child molester who worked abroad, including Greece
2. Greek debt swells again as Samaras looks to creditors for relief
3. Tunisian sought over employment scam
4. Greece sees 2013 primary budget surplus at 1.5 bln euros, says deputy finance minister
5. Woman dies after falling off regional authority building
6. Greece meets budget target for more debt relief from creditors
Today
This Week
1. Greece's market return mirrors return of tourists
2. Greece startup leaders say they cant break jobless cycle alone
3. Ground-breaking Good Friday mass signals thaw in Cyprus
4. Mayoral candidates clash over Athens mosque plans
5. Government looks to kick on
6. Greece offers to help find Turkish F-16 lost in 1996
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.