Sunday, May. 20, 2012 |
Greece crisis talks over EU bailout resume
Page last updated at 04:48 GMT, Monday, February 6, 2012 - 09:48 EST
BBC:
Lucas Papademos (right) put on a brave face on Sunday, saying limited progress was achieved
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Party leaders in Greece have resumed crisis talks on new austerity measures demanded by EU leaders.
Some progress has been made, the BBC understands, after talks broke down without an agreement last night.
The cuts are in exchange for a 130bn-euro (£108bn; $171bn) EU and IMF bailout and a 100bn write-off of private sector debt. Athens needs the money by March to avoid a default.
French president Nicolas Sarkozy said time was running out for a deal.
Speaking after a meeting with German Chancellor Angela Merkel, President Sarkozy urged Greek political leaders to agree to reforms, saying the crisis had to be solved "once and for all".
"Greece's leaders have made commitments and they must respect them scrupulously," he told a press conference.
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