Greek bailout: Coalition partners can't agree on austerity program

It appears that no one in Greek politics wants to take responsibility for the massive pain that will be inflicted on Greek citizens as a result of the austerity program negotiated between Prime Minister Papademos and the EU. Successful adoption of the austerity program means that Greece will receive $170 billion in bail out funds. BBC: Greek PM Lucas Papademos has failed to secure the support of his coalition for a raft of new austerity measures, after more than seven hours of talks. He met officials from three parties to try to secure a deal leading to a fresh bailout package. The main stumbling block was proposed pension cuts, reports said. Immediately after the talks ended, Mr Papademos held a meeting with officials from the "troika" of bailout creditors which broke up after several hours. A statement issued by the prime minister's office said the aim of the meeting with the troika - representatives from the European Union, the European Central Bank and the International...(Read Full Post)

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