Greek Prime Minister Lucas Papademos continues emergency talks with Greek party leaders today on more spending cuts with his Finance Minister warning that the country is on a knife edge. The government and Parliament must agree on a new austerity plan if it is to get another crucial bailout from the European Union and International Monetary Fund.Talks between Greek officials and EU & International Monetary Fund (IMF) debt inspectors ended yesterday without any breakthrough.The IMF and EU are demanding Greece make more spending cuts and economic reforms before they agree to another $169 billion rescue package. This would include more pay cuts for Greek workers.Greece is also negotiating with private lenders and bondholders on a plan to swap old bonds for new ones at a considerably lower interest rate, saving Greece $130 billion in debt.