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Greek far-right leader rejects bailout, attacks Germany

Reuters – Feb 10, 2012

Greek far-right leader George Karatzaferis refused on Friday to support his own government by backing a tough EU/IMF international bailout, and a state news agency said his party’s ministers had offered to resign from the coalition.

Karatzaferis launched a furious attack on Germany for trying to dominate the troubled nations of southern Europe, and accused Chancellor Angela Merkel of playing poker with Greece’s future.

The semi-official Athens News Agency said ministers from Karatzaferis’s LAOS party, the smallest in the three-party coalition, had submitted their resignations and it was up to Prime Minister Lucas Papademos to decide whether to accept them.

EU/Athens standoff fuels possibility of Greek default
Reuters – Feb 10, 2012

  • Pressure on Athens to cut more, win political support
  • Vote in Greek parliament could tip the balance
  • EU diplomats weigh Greek exit from euro zone more openly

In the marathon tennis match that is the Greek debt crisis, the ball is firmly back in Athens’ court and the consensus that a bailout deal will eventually be done is starting to fray a little.

After a ‘deal’ was struck among Greek political leaders on Thursday, euro zone finance ministers in Brussels took one look at Greek Finance Minister Evangelos Venizelos’ figures and promptly told him to go back to Athens and do more.

With trust and goodwill in increasingly short supply, Jean-Claude Juncker, the chairman of the Eurogroup, laid down three demands: a further 325 million euros in spending cuts, approval of the package by the Greek parliament, and a written commitment from the leaders of Greece’s parties that they would stick to the deal beyond April elections.

Greece bailout: Lucas Papademos warns of default chaos
BBC News – 3 hours ago

Greece faces “uncontrolled chaos” if it fails to agree austerity measures and defaults on its debts, Prime Minister Lucas Papademos has warned.

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