Greek parties face EU bailout deadline

February 07 [Tue], 2012, 12:07
(Reuters) - Greece's coalition parties must tell the European Union on Monday whether they accept the painful terms of a new bailout deal to avoid a messy default that could threaten the country's future in theeuro zone.
Political leaders must agree on unresolved problems - including labor market change and shoring up domestic banks - to secure the 130 billion euro ($170 billion) rescue karen millen needs by March or risk inflaming tempers in the European Union over what is seen as its dithering on implementing reforms.
A socialist party spokesman said leaders of the three coalition parties - who may face anger in parliamentary polls karen millen dressesas soon as April - must respond by noon (5 a.m. ET) on Monday. A meeting of political leaders would follow later in the day.
Technocrat Prime Minister Lucas Papademos said after five hours of talks on Sunday that party chiefs had agreed measures including wage cuts and other reforms as part of spending cuts worth 1.5 percent of gross domestic product.
But PASOK spokesman Panos Beglitis karen millen sale said a number of major issues demanded by the "Troika," representing Greece's EU, European Central Bank and International Monetary Fund lenders, remained unresolved.
"There are two big issues left - labor and banks ... those have been left for tomorrow," Beglitis said.
Domestic banks are up to their necks in junk Greek government bonds now worth a fraction of their face value and two parties - the conservative http://www.karenmillendressesonlines.comNew Democracy and the far-right LAOS party - have opposed any further spending cuts.
The euro shed 0.4 percent in early Asian trade to $1.3105, having fallen as far as $1.3075 in thin early trade over worries the whole rescue scheme could flop.
Talks on the Greece's second bailout since 2010 - and an accompanying deal to ease its huge debt burden via its private creditors accepting deep losses on the bonds they hold - have dragged on for weeks.
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