Papandreou survives confidence vote / Barroso offers Athens austerity incentive

Greece’s embattled government won a vote of confidence in parliament early on the 22 June 2011, clearing a significant obstacle to a fresh €120bn bail-out by international lenders.

The Greek government must now rapidly pass two more tests – enacting a €28bn austerity plan and the laws needed to implement it – to win a new bail-out to avert the eurozone’s first sovereign default and possible global economic disaster.

Separately, Greece was offered a fresh incentive to approve the deep spending cuts, after the President of the European Commission promised to accelerate the disbursal of €1bn in cohesion grants to Athens if austerity measures were approved.

European Commission: Memo/11/441: Statement by President Barroso following the confidence vote in the Parliament on the new Greek Government http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/441&format=HTML&aged=0&language=EN&guiLanguage=en

EUObserver, 23.6.11: Greek finance minister jangles EU nerves ahead of summit http://euobserver.com/9/32539

ESO: Background information: Eurozone finance ministers delay €12bn loan / Venizelos aims to push through Greek reform / Merkel faces backlash over Greek deal http://www.europeansources.info/record/eurozone-finance-ministers-delay-e12bn-loan-venizelos-aims-to-push-through-greek-reform-merkel-faces-backlash-over-greek-deal/

BBC News, 22.6.11: Greek government survives confidence vote http://www.bbc.co.uk/news/world-13869428

Deutsche Welle, 22.6.11: Greek government survives vote of confidence http://www.dw-world.de/dw/article/0,,15179895,00.html

EUObserver, 22.6.11: Athens wins confidence vote http://euobserver.com/9/32531

Kathimerini, 21.6.11: Government wins confidence vote http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_6641_21/06/2011_395444

EurActiv, 22.6.11: Greek government survives vote as Barroso pushes new plan http://www.euractiv.com/euro-finance/greek-government-survives-votes-eu-drums-new-plan-news-505842

EUObserver, 20.6.11: Eurogroup chief: 'I understand Greek rebellion, but there is no choice' http://euobserver.com/9/32519

EUObserver, 20.6.11: EU to Greece: New austerity package or no cash http://euobserver.com/9/32514

BBC News, 22.6.11: Greece austerity: PM Papandreou tries to persuade MPs http://www.bbc.co.uk/news/world-13877932

Spiegel Online International, 22.6.11: http://www.spiegel.de/international/europe/0,1518,769760,00.html http://www.spiegel.de/international/europe/0,1518,769760,00.html

Kathimerini, 22.6.11: Samaras stand by ND's rejection of new measures http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_31798_22/06/2011_395561

Kathimerini, 22.6.11: FinMin meeting with troika inspectors http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_26757_22/06/2011_395533

Mediapart, 21.6.11: Why the ECB won't allow restructuring (via PressEurop) http://www.presseurop.eu/en/content/article/729081-why-ecb-wont-allow-restructuring

To Vima, 20.6.11: Imperial Germany - eager to bury the euro (via PressEurop) http://www.presseurop.eu/en/content/article/725271-imperial-germany-eager-bury-euro

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