February 13, 2012
Greece has admitted it still faces a tough job in persuading the European Union and IMF to save it from bankruptcy even after parliament approved savage extra budget cuts, provoking a night of looting and burning in central Athens.
A suspicious EU has told leaders of the two parties left in the government of technocrat Prime Minister Lucas Papademos to give written commitments by Wednesday that they will implement the pay, pension and job cuts after elections expected in April.
As parliament debated the austerity package on Sunday night, riot police fought running battles with protesters outside. By daybreak on Monday 93 buildings had been wrecked or seriously damaged in the city centre, some of them historic monuments.
The written undertakings are not the only demand euro zone finance ministers have made before they decide whether to approve a 130 billion euro bailout, part of which Athens must get if it is not to default chaotically when 14.5 billion euros in debt repayments fall due on March 20.
Weary of broken Greek promises, the Eurogroup ministers have also told Athens to say how it will fill a 325 million euro gap in its plan for an extra 3.3 billion euros in savings this year before they meet in Brussels on Wednesday.
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