Update: Friday Jul 27, 2012

> BARROSO: ‘GREECE AND EUROPE WILL MAKE IT’

After his meeting with Prime Minister Antonis Samaras, European Commission president Jose Manuel Barroso said: “…Today I want to send a clear message to the people of this great country, of Greece. I know that many people feel without hope. Many are making extremely difficult sacrifices. And many people ask why they should do more…

> COALITION GOVERNMENT

Prime Minister Antonis Samaras and coalition partners, PASOK leader Evangelos Venizelos and Democratic Left leader Fotis Kouvelis yesterday afternoon concluded a first round of talks on the proposed package of measures to the tune of EUR 11.5 billion for 2013 and 2014. According to media reports, the coalition leaders were unable to reach a consensus on where the cuts should be made…

> ‘CONSTRUCTIVE MEETING’

Speaking to reporters after the talks, government spokesman Simos Kedikoglou insisted that the meeting had been “constructive.” “Everyone wants to contribute to achieving fiscal targets,” Kedikoglou said…

> TROIKA MEETING

Finance Minister Yannis Stournaras briefed the troika representatives on the cost-cutting measures and, according to sources, suggested that some of them could apply from this year in a bid to front-load the programme…

> ECB

European Central Bank President Mario Draghi pledged yesterday to do whatever was necessary to protect the euro zone from collapse, including fighting unreasonably high government borrowing costs…

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