A few hours ago Timothy Geithner was in Poland promoting his plan for a EuroTARP, while Greek PM George Papandreou was preparing to fly to New York for meetings with the U.N. and the IMF.
But something went wrong.
Geithner’s meeting ended in discord with no pledge to recapitalize banks.
Papandreou canceled his trip after talking to Finance Minister Evangelos Venizelos, who had been in Poland with Geithner, planning instead to return to Greece.
“The prime minister judged that he should not be away. He wants to ensure that all of Greece’s commitments (to its European Union partners) are fulfilled,” government spokesman Ilias Mossialos told Reuters.
Greece meets with the Troika next week to secure the next $8 billion loan tranche. rumour has it that the Troika wants harder austerity measures.
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