February 4, 2012
The Greek finance minister, Evangelos Venizelos, said on Saturday that talks between the government and its foreign creditors on a second rescue deal were “on a razor’s edge,” adding that though progress had been made on some levels, crucial issues were unresolved.
Agreement was reached on issues like the recapitalization of Greek banks and the privatization of state assets, Mr. Venizelos said.
“Two major, interrelated, issues remain unresolved — labor relations and wages in the private sector, and the fiscal measures that must be taken to ensure we are within target for 2012,” Mr. Venizelos said after a two-hour conference call with euro zone officials. Despite the barriers, a deal must be reached in bailout talks by Sunday night, he said.
Earlier in the day, state television announced that a meeting scheduled for Saturday between the Prime Minister Lucas Papademos and the leaders of the three parties in his coalition had been put off until Sunday afternoon as talks between the government and creditors dragged on. Mr. Papademos is expected seek political support for a new round of austerity measures.
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