Papandreou to discuss Greek crisis with Merkel and Sarkozy

The Greek Prime Minister George Papandreou is to discuss Greece's debt crisis with German Chancellor Angela Merkel and French President Nicolas Sarkosy today.

The three leaders will discuss the on-going uncertainty in a tele-conference call this afternoon, amid fears Greece is moving closer to a default.

Yesterday, it was confirmed that Greece is introducing a new raft of temporary austerity measures including a severe new property tax in the hope of drawing down another cash installment from the IMF and EU.

Meanwhile, with the Troika due back in Ireland next month, pressure continues on the Government to decide what state assets may be sold to raise money.

Spokesperson for the European Commissioner for Economic and Monetary Affairs, Olli Rehn Amadeu Altafaj Tardio has said it may be possible for Ireland to ring fence money raised from the sale of state assets.