Crisis-hit Greek PM holds talks in Russia | world | Hindustan Times
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Crisis-hit Greek PM holds talks in Russia

Greek Prime Minister George Papandreou, whose country is fighting an unprecedented debt crisis, was holding talks on Tuesday with Russian leaders in Moscow.

world Updated: Feb 16, 2010 15:33 IST

Greek Prime Minister George Papandreou, whose country is fighting an unprecedented debt crisis, was holding talks on Tuesday with Russian leaders in Moscow.

It was not immediately clear if Papandreou would be raising Greece's financial situation in his talks with Russian President Dmitry Medvedev, which were to be followed by a meeting later with Prime Minister Vladimir Putin.

"Special attention will be given to questions of trade and economic cooperation," the Kremlin said in a statement ahead of the talks without giving further details.

Also discussed would be Russia's planned South Stream pipeline that would ship Russian gas to Europe through the Balkans, avoiding its neighbour Ukraine, the statement said.

Greece's ballooning public deficit has seen its total debt shoot up to about 300 billion euros, or 113 per cent of GDP, nearly double the 60 per cent eurozone limit.

Russia in 2008 pledged a 500 million dollar loan to Iceland to help it out of its deep economic woes but the promise was withdrawn amid an increasingly tight budget situation in Moscow.