Registered: Mar 2002
10-04-12 04:22 AM
It looks like further patience may be required while we wait for Greece to receive the 31.5 billion EUR bailout.
"Greece, Troika Remain Apart on Cuts"
By STELIOS BOURAS And PHILIP PANGALOS
ATHENSGreece's efforts to clinch a deal with its international creditors on a package of cuts by the end of this week are under threat, with the government saying Wednesday that a "fairly big" gap still separates the country from its lenders, while a fresh dispute emerged over proposed labor-market changes.
Government officials now say that Europe might hold an extraordinary summit in November to approve the 31 billion ($40 billion) aid installment, most of which will go toward recapitalizing the country's banks, under Greece's 173 billion bailout.
Debt crisis: as it happened, October 3, 2012
17.43 Another Greek official told AFP that the country hopes to reach accord with international creditors by Monday. He said:
Quote More meetings will be held...we will know where we are on Monday [when eurozone finance ministers are to meet in Luxembourg].
17.15 Greece's talks with European debt inspectors are progressing well, but there is still "a large gap" between the two parties, according to the country's finance minister.
Yannis Stournaras told reporters:
Quote Discussions with the troika are on a good track. There is still a large gap, we are trying to reach a compromise to seal a deal.