Greek Talks — What’s Next?

By Jenny Paris

Wall Street Journal
February 9, 2012

Euro-zone finance ministers have sent Greece back “to do its homework” before it can clinch fresh multi-billion euro aid to avoid default on its debt next month.

Weeks of political drama and bargaining with international lenders in Athens didn’t help ease mistrust and anger among European governments toward the Greek political leadership, with many of them demanding more proof that the country will fulfill its past and present pledges.

Even as Greek political leaders overcame differences to agree on cutbacks of over €3 billion, there were still questions after Thursday’s talks over how the country would fill a €300 million hole in its budget this year and whether all parties backing the ruling coalition would stand firmly behind the plan when it comes for a vote in parliament.

With social pushback building up again following years of austerity and ahead of an election as early as spring, several lawmakers have indicated they will vote against the measures. The vote could be held as early as Sunday if Greek finance minister Evangelos Venizelos doesn’t want to miss yet another appointment with his counterparts set for Wednesday.

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