Athens edges closer to deal on austerity measures

Greek prime minister Lucas Papademos was yesterday shuttling over and back between the troika, the creditor banks and political party leaders desperately trying to conclude a deal on new austerity measures.

Dutch prime minister Mark Rutte increased the pressure, talking down the danger of contagion to the rest of the eurozone if Greece exited, echoing similar remarks by Neelie Kroes the Dutch European Commissioner.

Reports that the parliament in Athens will be asked to vote through the terms of the debt writedown and new financing deal on Sunday means uncertainty will continue.