Greece 'fails to agree' bailout terms

9th February 2012

Coverage of the ongoing Greek debt crisis continues in today's papers, with the country's coalition government failing to approve the austerity measures demanded by its international creditors.

The Telegraph reports that party leaders did not sign off tough austerity measures, including pension cuts demanded as part of the €130bn bailout package.

Prime minister Lucas Papademos was meeting with officials from the EU, European Central Bank (ECB) and International Monetary Fund (IMF) early this morning in an attempt to resolve the pensions issue, the paper says.

Party leaders may meet again after that to try to come to an agreement ahead of a meeting of eurozone finance ministers later today, according to reports in the Greek media.

However, the Guardian says that Greek leaders reached a tentative agreement on what it describes as "the draconian" terms required to unlock the bailout fund.

The paper quotes an unnamed aide as saying that Greek finance minister, Evangelos Venizelos would have the "finalised text of the agreement in his hands" by the time he boarded a plane at 7am to attend today's eurogroup meeting in Brussels.

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