Greek austerity talks stall on pension cuts - WAOW - Newsline 9, Wausau News, Weather, Sports

Greek austerity talks stall on pension cuts

Posted:

ATHENS, Greece (AP) -- The political leaders backing Greece's coalition government have ended their meeting after seven-and-a-half hours without an agreement on the austerity proposals of the so-called "troika" of bailout creditors -- the European Union, the European Central Bank and the International Monetary Fund.

It appears the most contentious point is the troika's demand for cuts in auxiliary pensions over a threshold of euro150 a month. Two of the three leaders -- conservative Antonis Samaras and right-wing populist Giorgos Karatzaferis -- have held out over this point, which, according to Karatzaferis, consumed almost the whole meeting.

Media are reporting that the third coalition leader, socialist George Papandreou, objects to cuts in main pensions. The three leaders have left Prime Minister Lucas Papademos to negotiate these points with the troika.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Powered by Frankly