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AP Photo/Petros Giannakouris

Greece leaders reach deal on more austerity and cuts

The Greek Prime Minister said that there was “broad agreement” on all points of the new programme -with one exception.

GREEK POLITICAL LEADERS have reached an agreement on a new round of cuts.

The latest round of austerity measures had been demanded by creditors in order to secure a €130 billion bailout for the country.

The deal reached this afternoon is intended to avert the threat of bankruptcy which had threatened the country in recent weeks. Political leaders had met with Prime Minister Lucas Papademos for more than seven hours yesterday for crisis talks.

In a statement on his website, the Greek Prime Minister said that there was “broad agreement” on all points of the programme with one exception. He did not go into further detail about the exception.

The statement in full from Parademos’s office  says:

The prime minister and political leaders met and looked carefully at the content of the new economic program that comes with financial and economic support of the country for years.

There was broad agreement on all points of the program with one exception, which requires further elaboration and discussion with the Troika. This discussion will take place immediately in order to complete the deal in view of the meeting of the Eurogroup.

The President of LA.OS Mr. Karatzaferis expressed serious reservations.

More on this to follow shortly…

Greek leaders head to Brussels empty-handed >

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