Athens Greece's partners in the European Union and the International Monetary Fund are increasingly exasperated by a lack of agreement on the measures they demand in return for a 130 billion euro ($172 billion) bailout and time is running out for the country before a major March 20 bond redemption.
Euro zone officials say the full package must be agreed with Greece and approved by the EU, European Central Bank and IMF before February 15 so legal paperwork can be completed in time to avoid a chaotic default that could threaten global economic recovery.
But after all-night talks with leaders of the three parties in the Greek coalition and with chief EU and IMF inspectors, Venizelos emerged shortly before dawn to say that one issue was unresolved.
"I am leaving for Brussels in a short while with the hope that the Eurogroup meeting will be held, and a positive decision on the new program will be taken," he said.
"The financial survival of the country in the coming years depends on the new program ... It is time of responsibility for everyone." Venizelos had hoped to present to his fellow euro zone finance ministers in Brussels a fully-fledged deal on a new bailout plan, including commitment for 3.3 billion euros in budget cuts this year.
A spokesman for the socialist PASOK party said disagreement over pension reform had been the stumbling block. A senior government official said the party chiefs had agreed on how to make about 90 percent of the promised savings, leaving a relatively small hole in the calculations.
Athens had to close this gap quickly, said the official. "Greece has another 15 days to specify fiscal savings worth 300 million euros," he said on condition of anonymity.
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