Samaras rules out post-election cooperation in Greece - Financial Mirror

Samaras rules out post-election cooperation in Greece

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The leader of Greece's conservatives, reluctant partners in a unity government, signalled on Thursday his main focus was on winning the elections in February and reversing policies prescribed under an emergency bailout.
Antonis Samaras has infuriated Greece's EU peers by refusing to back austerity measures aimed at averting national bankruptcy, and he said he would not cooperate with other parties after the election, slated for Feb. 19.
His statements are further evidence of the rough road ahead of technocrat Prime Minister Lucas Papademos, a former ECB vice president whose three-party coalition won a vote of confidence in parliament on Wednesday.
An opinion poll published on Thursday showed Samaras's New Democracy party had widened its lead over the Socialists of ex-prime minister George Papandreou, with its support rising to 32% from 30% in September.
Thousands of Greeks are due to protest on Thursday against painful spending cuts and tax hikes that have pushed their country into a fourth year of recession.
The size and mood of the rally, the first big protest in almost a month, will show the level of bitterness towards further austerity measures sought by the EU and IMF in return for more loans.
Backed by New Democracy, its bitter rivals the Socialists and the far-right LAOS party, the cabinet must start meeting the terms of a new 130 billion euro bailout agreed last month.
Before that it must sign a pledge to assure the EU and IMF that it will do what it takes to make the deal work. In exchange it will get an 8 billion euro loan tranche it needs to avoid bankruptcy next month.
Polls show three quarters of Greeks back Papademos, a non-party technocrat, after decades of rotating rule by the PASOK Socialists and New Democracy. These two are blamed for piling up vast debts and leading Greece to the brink of default.
Apart from suggesting he would move to a pro-growth strategy, Samaras repeated that he would not sign the pledge demanded by Brussels swearing to do what it takes to see through the 130 billion bailout. He says his word is enough.
The coalition government's first major task will be on Friday when it submits to parliament a 2012 budget of tax rises and spending cuts.
The Greek Finance Ministry said on Thursday it had begun talks with private sector bondholders represented by the Institute of International Finance on a bond swap which aims to cut around 100 billion euros from its debt.