Greek leaders entered a second day of closed-door political talks yesterday and were under intense pressure to ensure that the country doesn’t go bankrupt in the next few weeks and remains in the eurozone.
The Socialist government of Greek Prime Minister George Papandreou, who narrowly survived a parliamentary confidence vote early on Saturday, said it has started talks to form a temporary coalition to run the country for the next four months. The government was also scheduled to hold a Cabinet meeting at 2pm GMT.
Papandreou, mid-way into a four-year term, has promised early elections by March and has said he would be prepared to step aside.
However, conservative leader of the main opposition New Democracy party, Antonis Samaras, said yesterday no talks between the two parties were taking place and reiterated his stance that Papandreou must resign before any coalition discussions can take place.
Samaras made his latest comments after a brief meeting with Greek President Karolos Papoulias, a mainly ceremonial figure who has called for collaboration between the two main parties.
Greece has been surviving since May last year on a first 110 billion euro (US$151.6 billion) bailout. However, its financial crisis was so severe that a second rescue was needed as the country remained locked out of international bond markets by sky-high interest rates and facing an unsustainable national debt increase.
The new EU deal, agreed on by the 27-nation bloc on Oct. 27 after marathon negotiations, would give Greece an additional 130 billion euro in rescue loans and bank support. It would also see banks write off 50 percent of Greek debt, valued at about 100 billion euro. The goal is to reduce Greece’s debts to the point where the country is able to handle its finances without relying on bailouts.
Greece’s lawmakers must now approve the new rescue deal, putting intense pressure on the country’s leaders to swiftly end the political crisis so parliament can convene and put the debt agreement to a vote.
“In these critical moments, the two [main] parties are merely wasting time,” lawmaker Giorgos Kontoyannis said.
AIR SUPPORT: The Ministry of National Defense thanked the US for the delivery, adding that it was an indicator of the White House’s commitment to the Taiwan Relations Act Deputy Minister of National Defense Po Horng-huei (柏鴻輝) and Representative to the US Alexander Yui on Friday attended a delivery ceremony for the first of Taiwan’s long-awaited 66 F-16C/D Block 70 jets at a Lockheed Martin Corp factory in Greenville, South Carolina. “We are so proud to be the global home of the F-16 and to support Taiwan’s air defense capabilities,” US Representative William Timmons wrote on X, alongside a photograph of Taiwanese and US officials at the event. The F-16C/D Block 70 jets Taiwan ordered have the same capabilities as aircraft that had been upgraded to F-16Vs. The batch of Lockheed Martin
US President Donald Trump yesterday announced sweeping "reciprocal tariffs" on US trading partners, including a 32 percent tax on goods from Taiwan that is set to take effect on Wednesday. At a Rose Garden event, Trump declared a 10 percent baseline tax on imports from all countries, with the White House saying it would take effect on Saturday. Countries with larger trade surpluses with the US would face higher duties beginning on Wednesday, including Taiwan (32 percent), China (34 percent), Japan (24 percent), South Korea (25 percent), Vietnam (46 percent) and Thailand (36 percent). Canada and Mexico, the two largest US trading
GRIDLOCK: The National Fire Agency’s Special Search and Rescue team is on standby to travel to the countries to help out with the rescue effort A powerful earthquake rocked Myanmar and neighboring Thailand yesterday, killing at least three people in Bangkok and burying dozens when a high-rise building under construction collapsed. Footage shared on social media from Myanmar’s second-largest city showed widespread destruction, raising fears that many were trapped under the rubble or killed. The magnitude 7.7 earthquake, with an epicenter near Mandalay in Myanmar, struck at midday and was followed by a strong magnitude 6.4 aftershock. The extent of death, injury and destruction — especially in Myanmar, which is embroiled in a civil war and where information is tightly controlled at the best of times —
China's military today said it began joint army, navy and rocket force exercises around Taiwan to "serve as a stern warning and powerful deterrent against Taiwanese independence," calling President William Lai (賴清德) a "parasite." The exercises come after Lai called Beijing a "foreign hostile force" last month. More than 10 Chinese military ships approached close to Taiwan's 24 nautical mile (44.4km) contiguous zone this morning and Taiwan sent its own warships to respond, two senior Taiwanese officials said. Taiwan has not yet detected any live fire by the Chinese military so far, one of the officials said. The drills took place after US Secretary