"However a key meeting due to have been held Monday with heads of the Greek socialist, conservative and far-right parties which form Papademos' unwieldy coalition government was put back."
This as we also hear that Sarkozy, who defied Merkel and opposed Greek soveriegnty being stripped away, is now singing along with Merkel...
"In Paris, German Chancellor Angela Merkel and French President Nicolas Sarkozy ramped up pressure on Athens, as did the spokesman for a European commissioner in Brussels."
Apparently the new measure being tossed around is if Germany can't directly control Greece, then they will administer the bailout funds which is really the same effect as without the bailout fund, Greece is broke. Perhaps this is more palatable to Sarkozy?
"Merkel warned that Greece would receive no more EU aid to cope with the debt crisis until Athens reached a deal with the EU, ECB and IMF 'troika' on more spending cuts and reforms.
The two leaders also floated the idea of placing part of Greece's future bailout loan funds in a special account to make sure it is channelled to service the country's enormous debt, currently exceeding 350 billion euros, and not for other uses.
"The Greeks gave us undertakings," Sarkozy added. "They should respect them scrupulously. There's no choice."
An EU spokesman also noted that "we are already past the deadline..."
So I guess Papademos won't be resigning today?
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