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Deadline looms in Greece
GREECE’S coalition parties must tell the European Union by today whether they accept the painful terms of a new bailout deal as EU patience wears thin with political dithering in Athens over implementing reforms.
Technocrat Prime Minister Lucas Papademos put on a brave face yesterday as he tried to get leaders of the three parties in his government to sign off on terms of a €130bn (£108bn) rescue, which Greece needs soon to avoid a chaotic debt default.
Papademos said in a statement party chiefs had agreed measures including wage cuts as part of spending cuts worth 1.5 per cent of GDP.
But a spokesman for the PASOK socialist party said a number of major issues demanded by the Troika remained unresolved late last night.