Germans consider private bail-out

Report of developments during 30 April 2010 on the Greek debt crisis and attempts by Germany, other Eurozone countries and the IMF to negotiate a viable aid package for Greece.

Eurozone finance ministers were set to hold emergency discussions in the next two days to settle the remaining details of the multibillion-euro rescue package for Greece.

A group of German banks and other companies was said to be considering a private-sector contribution to the international bail-out for Greece as a conciliatory step intended to smooth the way for German politicians to approve the unpopular aid.

George Papandreou, Greek prime minister, told parliament that adoption of the rigorous three-year austerity programme being drawn up by the European Union and International Monetary Fund was 'necessary ... for the country’s survival.' There was strong opposition from leftwing parties and trade unions in Greece.

ESO: Background information: Greece agrees to €24bn of cutbacks http://www.europeansources.info/record/greece-agrees-to-e24bn-of-cutbacks/

BBC News, 30.4.10: Greeks warned of austerity measures ahead http://news.bbc.co.uk/1/hi/business/10093758.stm

Deutsche Welle, 30.4.10: Continued public opposition hampers Greek economic reforms http://www.dw-world.de/dw/article/0,,5522422,00.html

France24, 30.4.10: Eurogroup set to announce emergency loan figures http://www.france24.com/en/20100430-eurogroup-eu-finance-ministers-greek-bailout-emergency-loans-100-billion

Kathimerini, 30.4.10: Battle for survival continues http://www.ekathimerini.com/4dcgi/_w_articles_politics_100002_30/04/2010_116804

Spiegel Online International, 30.4.10: 'The Financial Industry Doesn't Give a Damn about Politics' http://www.spiegel.de/international/europe/0,1518,692253,00.html

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