ATHENS, Greece, Sept. 17 (UPI) -- Greece's financial crisis has prompted Prime Minister George Papandreou to call off his trip to the United States this week, Greek media reported Saturday.
The BBC said state TV, quoting government sources, reported Papandreou, who had intended to attend U.N. and International Monetary Fund meetings, canceled the trip after consultations with Finance Minister Evangelos Venizelos.
Eurozone finance ministers, meeting in Poland, decided Friday to hold off paying the next round of emergency loans to Greece while the country's finances are reviewed, Voice of America reported. The Greek government has said it would run out of cash in October unless it gets the $11 billion infusion.
Greece's debt amounts to about 150 percent of its gross domestic product, raising fears among European nations it could default on its financial obligations.
"Technically we have all the chances of taking a decision in the first part of October so as to disburse before mid-October for Greece, but really on the condition that Greece meets all the fiscal and other conditions. And now the ball is in the Greek court," EU Economic Affairs Commissioner Ollie Rehn said.
The United States' concern over the Greek situation is reflected in U.S. Treasury Secretary Timothy Geithner's appearance at the meeting in Poland where he pushed for quick action by Europe.
German Chancellor Angela Merkel, whose country has the world's fourth-largest economy, was quote by VOA as saying: "Everything which needs to be done to keep the euro stable, needs to be done. Everything that goes against this aim must be avoided."
