European Commission President Jose Manuel Barroso said yesterday that he was confident Greece’s debt crisis could be contained, a day after Athens police battled protesters objecting to austerity plans.
Greece is in negotiations with the EU and the IMF on a financial bailout that its government said was desperately needed by May 19 to avoid a devastating debt default.
“I’m confident that the talks will be concluded soon, meaning in the next days,” Barroso told a press conference at the end of a visit to Beijing. “We believe that these solutions will be conducive to our actions and will prevent further possible effects of the contagion.”
The EU and Greek authorities are making “solid and rapid progress” to finalize an agreement on the bailout, Barroso said. “Greek authorities have stated in very clear terms that they will take all measures needed to correct fiscal imbalances.”
Greek Prime Minister George Papandreou on Thursday said that Greece was in “a battle for survival.”
The government would complete talks on getting tens of billions of euros from the EU and IMF “in coming days,” he said.
“We will do whatever it takes to save the country,” he said.
The bailout, however, is deeply unpopular in Greece because of the harsh conditions protesters say it will impose on ordinary people.
Greek police clashed with protesters on Thursday as the troubled nation came under intense pressure to force through extra cuts in return for the giant bailout deal said to be just days away.
After recent heavy falls, however, markets in Europe and the US rallied at the news that the deal was close to being finalized.
Police fired tear gas at hundreds of demonstrators trying to approach the finance ministry in Athens in protest at austerity cuts aimed at slashing Greece’s budget deficit.
The pledge by Japanese Prime Minister Sanae Takaichi to “work, work, work, work and work” for her country has been named the catchphrase of the year, recognizing the effort Japan’s first female leader had to make to reach the top. Takaichi uttered the phrase in October when she was elected as head of the ruling Liberal Democratic Party (LDP). Many were initially as worried about her work ethic as supportive of her enthusiasm. In a country notorious for long working hours, especially for working women who are also burdened with homemaking and caregiving, overwork is a sensitive topic. The recognition triggered a
Tropical Storm Koto killed three people and left another missing as it approached Vietnam, authorities said yesterday, as strong winds and high seas buffeted vessels off the country’s flood-hit central coast. Heavy rains have lashed Vietnam’s middle belt in recent weeks, flooding historic sites and popular holiday destinations, and causing hundreds of millions of dollars in damage. Authorities ordered boats to shore and diverted dozens of flights as Koto whipped up huge waves and dangerous winds, state media reported. Two vessels sank in the rough seas, a fishing boat in Khanh Hoa province and a smaller raft in Lam Dong, according to the
‘HEART IS ACHING’: Lee appeared to baffle many when he said he had never heard of six South Koreans being held in North Korea, drawing criticism from the families South Korean President Lee Jae-myung yesterday said he was weighing a possible apology to North Korea over suspicions that his ousted conservative predecessor intentionally sought to raise military tensions between the war-divided rivals in the buildup to his brief martial law declaration in December last year. Speaking to reporters on the first anniversary of imprisoned former South Korean president Yoon Suk-yeol’s ill-fated power grab, Lee — a liberal who won a snap presidential election following Yoon’s removal from office in April — stressed his desire to repair ties with Pyongyang. A special prosecutor last month indicted Yoon and two of his top
The Philippines deferred the awarding of a project that is part of a plan to build one of the world’s longest marine bridges after local opposition over the potential involvement of a Chinese company due to national security fears. The proposals are “undergoing thorough review” by the Asian Development Bank (ADB), which acts as a lender and an overseer of the project to ensure it meets international environmental and governance standards, the Philippine Department of Public Works and Highways said in a statement on Monday in response to queries from Bloomberg. The agency said it would announce the winning bidder once ADB
RSS