Greece makes last-gasp effort to secure imf 130bn euro bailout deal

Greece will today make a last-ditch attempt to stave off bankruptcy, which would send the eurozone into economic chaos and could ultimately bring down the single currency.

Parties backing the country's coalition government will meet again to try and secure an austerity deal with rescue creditors. It follows an intense weekend of negotiations which failed to produce a breakthrough.

Prime Minister Lucas Papademos will meet leaders of three parties backing his coalition, who all publicly oppose steep cuts in private sector pay demanded by negotiators representing eurozone lenders and the International Monetary Fund.

Source: Daily Mail