Cabinet Meets Urgently
 
                         Ahead  of the extraordinary meeting of the Eurogroup and the scheduled  European Summit, a cabinet meeting takes place today to discuss the  Greek stance on both critical processes. Sources say that the multi-bill  would be presented by the FinMin to be tabled until the evening in the  House to be voted on August 8. 
Papandreou favours bond repurchase
Greek PM George Papandreou told Financial Times Deutschland that he  supports the plan of repurchasing a part of Greek debt by the Greek  State at 50% of bond value with EFSF funds.
In any case, the Prime Minister calls for immediate decisions,  characterising any further delay in decision-making as unattractive to  investors and risky for the orderly and efficient progress of the  reforms decided by the Greek government by the adoption of the  medium-term program. 
In order to emphasize on the need for immediate decisions and  finalization of the second bailout loan, Papandreou avoided speaking of  when the country would regain access to the markets. 
Opposition leader: The word default is prohibited
Meanwhile, a recent comment of FinMin E.Venizelos about the possibility  of a selective default poured fuel to the fire. “This phrase is  prohibited”, said yesterday Antonis Samaras, New Democracy party leader.
"Such a move could lead to disastrous results for the country," he said,  and had a tilt at the Prime Minister on the outcome of the MoU. 
“What Mr. Papandreou has now to say that Mr. Venizelos said the word  default? He once said that those who speak of default serve  speculators”, he said.
FinMin’s immediate reaction
Samaras’s statements caused the immediate reaction of Evangelos  Venizelos, who said that he had informed the opposition leader about the  line of government moves. 
“I am always available for full and in-depth update”, the FinMin  commented, adding that the phrase “selective default” has no relation to  bankruptcy, as it is perceived by Greek people. 
“I expected the opposition leader to support the government in its  efforts to achieve a responsible and calm way of dealing with issues for  the benefit of the country”, he concluded .
(capital.gr)