News Summary: Greek political scene roils again

Greek government survives coalition partner's exit, creditors urge stability, work on reforms

Associated Press

AIRING OF GRIEVANCES: Greece's fragile coalition government was left bruised but standing Friday after a junior party decided to pull its two ministers from the cabinet following a falling-out over the unpopular closure of state broadcaster ERT.

SHARING THE PAIN: The setback hammered shares on the Athens stock exchange and drew urgent appeals from the country's creditors for stability and swift reform implementation. Concerns about Greece also sent Europe's stock markets falling, with Germany's DAX dropping 1.24 percent.

BACK TO THE BRINK: There are now fresh doubts over Greece's bailout. The country has been pledged 240 billion euros in loans — but only on the condition that it introduced strict spending cuts and reforms. So far there are already delays on a pledged overhaul of the state and the inefficient tax system, liberalizing markets and further cutting spending.

View Comments (1)