Crucial Greek debt talks 'on hold'

6 Feb 2012, 7:16 am   -   Source: AFP
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Prime Minister Prime Minister Lucas Papademos confirmed reports that the talks would continue on Monday. (Getty)

Prime Minister Prime Minister Lucas Papademos confirmed reports that the talks would continue on Monday. (Getty)

Critical talks on a Greek debt rescue will over-run until Monday, the country's leaders said, but some ruling coalition members denounced the pressure to pass harsher austerity measures.

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Critical talks on a Greek debt rescue will over-run until Monday, the country's leaders said, but some ruling coalition members denounced the pressure to pass harsher austerity measures.
  
Prime Minister Prime Minister Lucas Papademos confirmed reports that the talks would continue on Monday, saying they had reached agreement on many issues.
  
But George Karatzaferis, leader of far-right party LAOS and Antonis Samaras, head of the conservative New Democracy party both attacked what they said was pressure to impose even harsher cuts on the Greek people.
  
"I will not contribute to the explosion of a revolution from destitution that will burn all of Europe," Karatzaferis told reporters after five hours of talks with Greek Prime Minister Lucas Papademos.
  
Samaras said the country was "being asked for more austerity, which it is unable to bear."
  
"I am fighting to prevent this," he said.
  
The measures reportedly included a 20-percent cut to the monthly minimum wage of 750 euros ($985) and a 15-percent cut in supplementary pensions and 15,000 civil service layoffs.
  
Athens has been in talks with the European Union, the International Monetary Fund and the European Central Bank -- known as the 'troika' here -- on further action needed to unlock a new eurozone rescue deal worth 130 billion euros ($171 billion) pending since October.
  
Pressure is also high for an agreement with private lenders to wipe out part of the 350-billion-euro Greek debt, as Athens faces loan repayments of 14.4 billion euros ($19 billion) on March 20.

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