European Central Bank

The latest package of savings that the Government wants to add 78,000 million euros to the balance of the accounts of the State and reduce the deficit to 7.5% of the gross domestic product (GDP) this year, includes privatisation, wage cuts, closure of State enterprises and tax increases. The Greek Prime Minister, Yorgos Papandreu, runs the risk that the new package of measures does not get the support of part of its parliamentary group, which has 156 of the total of the 300 seats in the Chamber, after the withdrawal last night of an MEP and the Declaration of another that will not vote in favour. Papandreou plans to hold an extraordinary meeting with the President helenus, Carolos Papoulias, at 1300 local time (10.00 GMT), which, according to the local press, is related to the risk that the measures are not adopted. According to Greek media, it became clear at an extraordinary meeting of the Ministers of Finance of the Group of the Euro in Brussels last night on Greece that European partners require that the package of measures and relevant laws be approved by the Greek Parliament. The ECB requires that the conditions the Economist j of the European Central Bank (ECB), Jurgen Stark, has called for this Wednesday to Greece which fulfils the agreed conditions to receive more financial aid. Stark has indicated in an interview with the Deutschlandfunk radio station that Greece must meet the conditions for the next tranche. The j of the ECB Economist reiterated that the Monetary Authority not opposed in principle to a participation of private creditors in the new Greece rescue package, although this must be voluntary. The Monetary Authority has warned that it will not accept Greek bonds as collateral in its operations of refinancing in the event of a default. Source of the news: Greece, paralysed by a general against the saving measures strike