Daily Archives: February 9, 2012

Putin faces a a growing Russian protest movement, Xi Jingping visits Washington, and emissions trading causes friction at the EU-China summit

Gideon Rachman and FT correspondents in Moscow, Washington, Beijing, and Brussels discuss how Vladimir Putin will react to Russia’s growing protest movement, Xi Jingping’s visit to Washington and tensions ahead of the EU-China summit over the emissions trading scheme.

Euro banknotes placed on a map of Greece. Photo: Dado Ruvic, Reuters

Dado Ruvic, Reuters

Welcome to our continuing coverage of the eurozone crisis.

All times GMT. By Tom Burgis and Esther Bintliff in London, and Anjli Raval in New York, with contributions from FT correspondents around the world.

23.13 European finance chiefs deferred ratifying a rescue package for Greece, pressing the government in Athens to put a newly struck austerity plan into action. Here are some closing remarks after talks this evening where no final decision on the deal was made:

  • Greece is in “the middle of the road,” and much work remains on its recovery, the country’s prime minister Lucas Papademos said in a statement.
  • Greece must pass its latest austerity package into law and identify €325m  in spending cuts before euro-area governments endorse a second bailout for the country, Luxembourg prime minister Jean-Claude Juncker said after chairing the emergency meeting of euro-area finance ministers. “Despite the important progress achieved over the last days we didn’t yet have all necessary elements on the table to take decisions today,” he said.
  • Christine Lagarde, IMF managing director said: ”There is clearly some very encouraging news coming out of Athens and … after the very heavy duty work that has been done lately, I think it’s positive.”

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