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Subject Eurozone gives Greece ultimatum for new bailout. Riots in the weekend?

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[quote:Anonymous Coward 10489144:MV8xNzc5MTkwXzI5NTU0ODY2X0ZDNTlFOEU0]
The repayment is on March 20th.

What they are saying is for you to have the 130 billion euros, we want more guarantees.? I think one is on the pensions, which is why a minister resigned. The two other conditions are additional structural spending cuts of 325 million euros for 2012 and a written pledge from coalition leaders that they will implement austerity measures, Juncker said.

Earlier, eurozone finance minister made it clear that despite Greek party leaders agreeing to the set of measures demanded by the EU and IMF, they would not move forward the process of setting up a new bailout of at least 130 billion euros for Greece unless at least three more steps were concluded.

The eurozone will hold a new meeting next Wednesday if all conditions are met, said Juncker, Luxembourg’s prime minister.

The government will have to set out precisely how it will find 325 million euros of savings this year so that pensions are not cut beyond the limit set by Samaras and supported by LAOS leader Giorgos Karatzaferis.

Kathimerini understands that these are likely to come from extra cuts in military expenditure and the moving forward of reductions in some public sector wages.

The head of the Eurogroup said that the eurozone will also wait to see if Greek MPs approve the loan agreement in a vote on Sunday.

Finally, he said that all the members of the coalition government would have to give a clear commitment that they would stick to the agreement

http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/business/2012/February/business_February184.xml&section=business

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_26146_10/02/2012_427058

Just default Greece. Get out of the Euro!
[/quote]

Original Message BRUSSELS — Eurozone finance ministers put off a decision Thursday on a new bailout to save Greece from bankruptcy, giving Athens less than a week to meet three conditions in return for 130 billion euros in aid.

The deadline was set after talks in Brussels between Greek Finance Minister Evangelos Venizelos and his 16 eurozone counterparts, who were unmoved by a deal rival Greek politicians struck hours earlier on austerity measures demanded by lenders

[link to www.khaleejtimes.com]

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