Greek PM to meet party leaders as election deadline looms

Greece's technocrat Prime Minister Lucas Papademos will meet party leaders within days as he races against time to complete promised reforms before elections expected in February.
Papademos, a former central banker, has to pass a set of reforms and restructure part of Greece's massive debt to meet the conditions of a 130 billion-euro ($170 billion) bailout package agreed with the European Union in October.
"In the coming days, there will be talks with political leaders to discuss the term of this government, in order to complete this specific task it has and finish with the whole issue of the election date," a government official said on Wednesday, speaking on condition of anonymity.
The official said the talks would not be necessarily about extending the government's term but would look at how much time was left to complete the agenda agreed with international lenders.
Last week, the IMF, part of a "troika" of lenders along with the EU and European Central Bank, said Greece was falling behind on its promised reform timetable and urged the government to move more swiftly.
Papademos told his ministers on Wednesday that the outcome of an EU/IMF review in January would be decisive for Greece to continue receiving the aid it needs to recapitalise its banks and complete its bond-swap plan.
"In the crucial three weeks ahead we must push through with structural reforms, either those pending or new ones, in order to… have constructive talks with the troika in mid-January," he said at a Cabinet meeting over pension reforms.
If these reforms are not completed by mid-January the talks with the troika could run into trouble, he added, according to a summary of the remarks released by the prime minister's office.
Measures remaining to be completed include cutting so-called supplementary pensions, which top up regular pension payments, and merging pension funds.
Papademos has repeatedly said he will not be bound by the February 19 election date agreed during the discussions on forming his government. There have been growing divisions in the Cabinet over when to go to the polls.
The Socialists of former Prime Minister George Papandreou have called for Papademos to be given more time, while the conservative New Democracy party, which is leading in the opinion polls, has pressed for the February date to be met.
As well as difficult reforms to pensions, privatisations and the labour market, Papademos is under pressure to reach an agreement with private sector bondholders over a deal to restructure their holdings of Greek debt.
The deal, a central element in Greece's second bailout package, will see bondholders accept a 50 percent cut in the nominal value of their bondholdings in return for a mix of cash and new shares.
The bond swap is intended to help Greece cut its debt burden by 100 billion euros ($130 illion) and reduce it to 120% of GDPby 2020, from 160% now. Talks have been held up by differences over the actual cost to be borne by the banks.