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Full Article Best photos of the year Follow Reuters Facebook Twitter RSS YouTube Read Sears to close more stores as holiday sales slump | 9:42am EST Detroit police say 3 deaths tied to dating services site 26 Dec 2011 Wall Street edges up, adding to recent gains | 10:54am EST Analysis: U.S. rental demand lifts housing sector 10:07am EST Insight: FDA warned PIP on breast implant safety 10:59am EST Discussed 263 In ad for newsletter, Ron Paul forecast ”race war” 132 Slumping Gingrich promises sharper counter-punch 121 Gingrich questions Ron Paul on racist newsletters Watched Eight-year-old boy is Iraq's youngest photographer Mon, Dec 26 2011 Miley Cyrus caught on camera swearing at a fan Thu, Dec 22 2011 Japan picks the F35 as regional uncertainty rises Mon, Dec 19 2011 Greek conservatives drop February election demand Tweet Share this Email Print Related News Greek debt talks hit trouble as hedge fund walks out Tue, Dec 20 2011 Euro zone IMF loan target in danger as UK declines help Mon, Dec 19 2011 Eurozone to push on with crisis steps, Fitch doubts outcome Sun, Dec 18 2011 Fitch: comprehensive euro zone deal "beyond reach" Fri, Dec 16 2011 No guarantee Greek debt swap will go through: troika source Fri, Dec 16 2011 Analysis & Opinion The year in review for the American middle class The EU Summit was more farce than tragedy Related Topics World » Greece » Greece's Prime Minister Lucas Papademos addresses the audience during an economic conference in Athens December 14, 2011. Credit: Reuters/Yiorgos Karahalis ATHENS | Tue Dec 27, 2011 9:57am EST ATHENS (Reuters) - Greece's conservative New Democracy party dropped its insistence on holding elections as early as February 19 on Tuesday, potentially giving technocrat Prime Minister Lucas Papademos a few more weeks to pass reforms and get a vital debt restructuring deal. New Democracy spokesman Yannis Michelakis said the party could agree to an extension under certain circumstances but said that elections would have to be held at the latest by Greek Orthodox Easter, which falls on April 15. "Any change to the agreed February 19 deadline depends on the debt swap talks," Michelakis told radio station Vima. The election date had been tentatively scheduled before Papademos was appointed last month but a crowded reform agenda has piled pressure on the government to put back the date. Political deadlock over the timing of the election has also complicated efforts to reach an accord on a 130 billion euro bailout plan that includes a crucial bond swap arrangement with private sector creditors. Papademos, a former central banker appointed to secure the bailout agreement, is racing to complete tax, pension and justice reforms demanded by the European Union and the International Monetary Fund, debt-laden Greece's lenders. New Democracy leader Antonis Samaras, who is leading in the opinion polls, softened his stance after meeting Papademos on Friday but is less willing than other members of the caretaker coalition to extend the deadline further. The Socialist PASOK and the far-right LAOS parties, both also in the government backing Papademos, have already said the prime minister should be given more time to complete his task. "We would have no objections if elections were held even after Easter," PASOK spokesman Panos Beglitis told reporters on Tuesday after a 90-minute meeting between Papademos and Socialist leader George Papandreou. Papandreou's Socialists handed over power to Papademos last month, after PASOK deputies refused to bear sole responsibility for sweeping austerity measures demanded by the EU and IMF. PASOK's opinion poll ratings have collapsed in recent months and Papandreou may face a leadership challenge in a party meeting later on Tuesday. The timing of an election has been closely watched as negotiations have continued between the government and banks over a deal in which private sector lenders would accept a nominal 50 percent cut on their holdings of Greek bonds in return for a mix of cash and new bonds. The arrangement is intended to cut Greece's debt by 100 billion euros, allowing it to bring its debt from 160 percent of gross domestic product to a still huge but more manageable 120 percent by 2020. The so-called Private Sector Involvement (PSI) forms a central element of the overall bailout package, which Greece urgently needs to stave off a bankruptcy that could destabilize the entire euro zone. (Reporting by Angeliki Koutantou and George Georgiopoulos; Editing by Alison Williams) World Greece Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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