February 7, 2012
Officials in Greece are under pressure to reach agreement on more austerity measures, as the threat of a default hangs over the country and protestors take to the streets.
Prime Minister Lucas Papademos and the leaders of Greece's governing coalition need to hammer out the details of a package of job and salary cuts, as well as pension reforms and other measures to reduce public spending.
Papademos was set to meet with party leaders Tuesday evening, but talks have now been pushed back to Wednesday, according to the Prime Ministers office.
It was the second delay since the leaders agreed Sunday on the "main elements" of the program, including a plan to reduce public spending by 1.5% of gross domestic output this year.
Meanwhile, Greek labor unions held a daylong strike Tuesday to protest the reforms, which they see as being foisted on them by foreign creditors.
The reforms are needed for Greece to receive a second bailout worth €130 billion from the European Union, International Monetary Fund and European Central Bank.
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