Greek Prime Minister George Papandreou is scheduled to meet Greek President Karolos Papoulias on Monday, according to information from Greek Prime Minister Office on Friday.

Local analysts hold that it means Papandreou will talk to President Papoulias about the aid deal with EU and IMF aid on Monday and announce the details afterwards.

According to the local media reports, the Greek government will proceed to further harsh austerity measures to achieve the goal of putting the economy in order, under the heavy pressure from European partners and markets.

Waiting for the formal announcement of the terms of the deal, labor unions and opposition political parties already criticize the government for making wrong choices over the past few months and reaching this point. Labor unions call for massive demonstrations across Greece on May 1 to protest the austerity measures.