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Europe

Greek PM to hold debt talks with Sarkozy in Paris

Text by News Wires

Latest update : 2011-09-30

Greek Prime Minister George Papandreou was set to meet French President Nicolas Sarkozy in Paris, as the deadline for Greece to avoid default rapidly approaches.

AFP - Greek Prime Minister George Papandreou is to meet Nicolas Sarkozy in Paris on Friday, the French president's office said, as Athens faces pressing deadlines to avoid default.

Sarkozy also congratulated German Chancellor Angela Merkel after the German parliament approved a beefed up eurozone rescue fund which he hailed as "an important step towards eurozone stability," his office said.

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The meeting at 1500 GMT in Paris is "to discuss the situation that Greece is currently going through," the Elysee palace said.

The Greek PM had a similar meeting with Merkel in Berlin on Tuesday to discuss his government's plans to overhaul the ailing Greek economy, after which Papandreou reportedly sought a meeting with Sarkozy.

The Greek state's reserves to pay wages and pensions run out next month.

An eight-billion-euro ($11-billion) slice of loans from the EU and the IMF, to which both France and Germany are key contributors, has been delayed due to reform slippage in Athens.

A mission from the two organisations and the European Central Bank, which is also part of the rescue, resumed on Thursday an audit of Greek finances vital to the release of the funds.

Date created : 2011-09-30

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