Greece seeks bail-out deal ‘this week’ to avert catastrophe

EUObserver reported comments from Greek Prime Minister Lucas Papademosthat on the 31 January 2012 in Brussels that Greece was seeking a deal with private lenders and the EU 'by the end of the week', as Athens raced to avoid a financial meltdown ahead of essential debt repayments due in March 2012.

In a separate feature EUObserver also reported an IMF official in Greece as saying that udget cuts alone would not save the Greek economy as the country is reaching the 'limit' of what society can endure, a remark that commentators saw as a departure from the IMF's traditionally more technocratic communiques.

• Primary Source

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

ESO: Background information: Call for EU to control Greek budget / Greece rejects German plan for eurozone overseer http://www.europeansources.info/record/call-for-eu-to-control-greek-budget-greece-rejects-german-plan-for-eurozone-overseer/

ESO: Background information: IMF takes tougher stance over Greek debt http://www.europeansources.info/record/imf-takes-tougher-stance-over-greek-debt/

Kathimerini, 31.1.12: PSI deal just a 'formal step' away http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_7796_31/01/2012_425363

Kathimerini, 31.1.12: PM to seek vital consensus with leaders http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_31/01/2012_425373

EUObserver, 2.1.12: IMF worried by social cost of Greek austerity http://euobserver.com/19/115104

IMF: Greece and IMF http://www.imf.org/external/country/GRC/index.htm

Kathimerini, 1.2.12: IMF's Thomsen indicates flexibility on wage cuts http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_01/02/2012_425380

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