February 19, 2012
The Greek prime minister, Lucas Papademos, is to hold last-minute talks with eurozone finance ministers on Monday to ensure his near-bankrupt country finally secures a vital €130bn bailout and avoids a default on its debts that could put the single currency at risk.
Papademos's unexpected flight to Brussels yesterday came as Germany continued to dig its heels in over the latest rescue package for Greece at a top-level meeting of senior EU and European Central Bank officials.
Wolfgang Schäuble, the German finance minister and focus of mounting Greek fury at austerity measures imposed on Greece, accused Athens of rejecting offers of help in rebuilding its shattered economy and of dragging its feet on reforms.
The German economic ministry, according to the paper Welt am Sonntag, has drawn up a "sobering" report on what it sees as Greece's failure to make implementing reforms its priority, and has called for greater co-operation with Brussels as a pre-condition for approving the bailout.
Papademos is to be on hand to assure sceptics that his government can deliver on these planned reforms and iron out final technical details of the package.
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