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.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
RSS