![The [Greek] European Tragedy](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWKI5s90SFm1wWTk6bs4p7CgslaC2SnYPsrZhb-B-smOufNNCSxCvpBLI9hOB-LsXZjir_PNmEiMk2-E62F3xkg96IoC6QFAaZAnPRTVH340IN9WBRmWJqPkjWlgyRj3zpALp7h6hvA58/s920/GkBack_new.jpg)
By Katherine Rushton 2:40PM GMT 19 Nov 2011
Greece's creditors hit an unexpected hurdle on Saturday, after one of the three leaders in the new Greek coalition refused to sign a pledge that he will back austerity measures - claiming his word is his bond.
IMF represantative Poul Thomsen (right), ECB representative klaus Masuch (second left), EC director Matthias Morse (left) in Athens on Saturday for talk with the Greek government. Photo: EPA
International lenders, weary of Greece's failure to deliver on austerity measures aimed at saving it from financial ruin, have called for the written commitment amid fears that politicians may backtrack on the fiscal measures ahead of the country’s elections next February.
However, Antonis Samaras, leader of New Democracy, Greece’s main conservative party and one of the three in the country's new coalition, said there is no need for him to offer a written declaration because he can be trusted.
The Troika, which is composed of the European Commission, the European Central Bank and the International Monetary Fund, and monitors Greek compliance with rescue deals, discussed the issue with Mr Samaras on Saturday. However, the Harvard-educated economist, known for his fiery rhetoric, refused to budge.
“Regarding the discussion we had with the troika and specifically on the written reassurances, I repeated to them my position on the issue," he told reporters.
He added that New Democracy had already proven its commitment to the terms of the bailout by backing the coalition led by technocrat Prime Minister Lucas Papademos and its new budget.
Related Articles
Germany: Britain 'will join euro before long’ 18 Nov 2011
EU budget grows 2pc in victory for austerity 19 Nov 2011
Mario Draghi hits out as ECB pressure grows to resolve crisis 18 Nov 2011
How the government wastes your money 18 Nov 2011
Mr Samaras agreed to back Mr Papademos's coalition in return for early elections that opinion polls suggest he would win, albeit without a majority. In recent days, he has stressed that his support for the cabinet is temporary, pending a February poll.
His refusal to sign the agreement puts at risk the next €8bn tranche of aid for Greece, which is needed by December if the country is to avoid defaulting on its debt repayments.
However, analysts expect Mr Samaras and the Troika to come to a compromise agreement that will allow both parties to save face.
"One way or another, there will be a way to bypass this problem. I believe there will be a solution that will not force Samaras to give a written commitment, and it will come soon," said Costas Panadopoulos, head of the pollster, ALCO.
The international lenders also met Mr Papandreou on Saturday, but he made no immediate comment after the talks.
Mr Papademos is scheduled to fly to Brussels on Monday to brief senior EU officials on the latest developments in Greece. Mario Monti, Italy's new premier, faces a show-down with EU president Herman van Rompuy on Tuesday followed by three-way talks with Germany and France on Thursday.