Eurozone finance ministers delay €12bn loan / Venizelos aims to push through Greek reform / Merkel faces backlash over Greek deal

George Papandreou, Greece’s Prime Minister, implored the Greek parliament to back his new government in June 2011 as eurozone finance ministers warned on the 19 June 2011 no new aid would be forthcoming unless Greek legislators passed a controversial €28bn austerity package.

Mr Papandreou appealed for cross-party support to tackle Greece’s financial crisis, warning that the country 'will quickly run out of funds' if it is unable to draw down a €12bn loan tranche as expected in July 2011.

EurActiv, 20.6.11: Eurozone piles pressure on Greece over austerity http://www.euractiv.com/en/euro-finance/eurozone-piles-pressure-greece-austerity-news-505761

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

ESO: Background information: Germany concedes on Greek debt deal http://www.europeansources.info/record/germany-concedes-on-greek-debt-deal/

ESO: Background information: Greece in turmoil amid coalition talks / Greece replaces finance minister http://www.europeansources.info/record/greece-in-turmoil-amid-coalition-talks-greece-replaces-finance-minister/

BBC News, 20.6.11: Greece: Eurozone ministers delay decision on vital loan http://www.bbc.co.uk/news/business-13832164

Deutsche Welle, 20.6.11: Eurozone finance ministers put off decision on Greek loan package http://www.dw-world.de/dw/article/0,,15173114,00.html

EUObserver, 19.6.11: Emergency finance chiefs meeting aims to prevent 'total disaster' http://euobserver.com/9/32509

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