June 23, 2011
Greece's new finance minister met EU and IMF inspectors on Thursday in an effort to iron out differences over a new bailout program, with local media saying the lenders had rejected changes requested by Athens.
Efforts to impose painful new austerity measures -- after an existing 110 billion euro ($157.5 billion) bailout for Greece proved insufficient to keep the country afloat -- kindled a revolt last week inside Prime Minister George Papandreou's Socialist party (PASOK), forcing him to reshuffle his cabinet to stiffen resolve.
The cabinet on Wednesday approved a draft law to implement the austerity plan but must still get parliamentary approval next Tuesday to secure a new European Union-International Monetary Fund bailout believed to be worth 120 billion euros.
Slovak Prime Minister Iveta Radicova said Papandreou had expressed serious doubts during a telephone call that parliament would pass the package.
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