June 21, 2011 / 2:03 PM / 8 years ago

TIMELINE - Key hurdles for Greece in coming weeks

 June 21 (Reuters) - Greek Prime Minister George Papandreou
faces a confidence vote in parliament on Tuesday, a major hurdle
for him to overcome in securing fresh international aid and
averting the euro zone's first sovereign debt default.
[ID:nL3E7HL0BG]
 Here are key challenges and deadlines that Greece will need
to meet in coming weeks:
 
 TUESDAY, JUNE 21
 Parliament holds a vote of confidence on Papandreou's newly
reshuffled cabinet at around 2100 GMT.
 
 TUESDAY, JUNE 28
 Deadline set by government to push through parliament a 28
billion euro ($39.8 billion), five-year austerity package of tax
hikes and spending cuts agreed with the European Union and the
International Monetary Fund.
 
 SUNDAY, JULY 3
 Deadline set by the EU for the Greek parliament to pass laws
implementing the austerity package -- potentially more difficult
as the laws will cover individual privatisations, tax steps and
spending cuts.
 Euro zone finance ministers hold an extraordinary meeting on
this date and have said Greece must pass the laws by then to
obtain its next, 12 billion euro tranche of bailout loans.
Greece has said it will be unable to pay its debts by mid-July
if it does not get the tranche.
 
 EARLY JULY
 Euro zone finance ministers have said they will define by
early July "the main parameters" of a new international bailout
plan for Greece, which will supplement the 110 billion euro
bailout launched in May last year. The new package will include
additional official loans and a voluntary rollover of Greek debt
by private investors.
 
 FRIDAY, JULY 15
 Six-month Greek Treasury bills worth 2.4 billion euros
mature.
 
 FRIDAY JULY 22
 Three-month Greek Treasury bills worth 2 billion euros
mature.
 
 SATURDAY, AUGUST 20
 A 5.9 billion euro, five-year Greek government bond matures.
 
 THIS AUTUMN
 Papandreou has announced a referendum will be held this
autumn on Greek electoral and political changes, including the
responsibilities of ministers. This could develop into a de
facto test of support for the government and austerity.
 
 (Writing by David Cutler of London Editorial Reference Unit and
Renee Maltezou in Athens; Editing by Andrew Torchia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below