Insiders said Lucas Papademos was scrambling to meet Brussels’ demands for austerity even as the latest data pointed to Greece missing yet more debt-reduction targets. Officials said that eurozone finance ministers had been given a report showing Greece’s public debt was on track to fall to just 129pc of GDP, far short of the 120pc target agreed under the €130bn (£108bn) second bail-out package. With concerns mounting about Greece’s ability to deliver its promises, the European Central Bank (ECB) sought to protect €50bn of its Greek debt portfolio by swapping old bonds for new ones while Europe’s leaders reportedly ... (full story)