Economy

xchrom

(108,903 posts)

39. Greece, lenders will miss March 10 deadline for rescue loan deal - sources

Sat Mar 8, 2014, 07:44 AM

Mar 2014

http://uk.reuters.com/article/2014/03/07/uk-greece-bailout-talks-idUKBREA261SN20140307

(Reuters) - Greece and its international lenders will miss a self-imposed March 10 deadline to clinch a deal that will release the next tranche of the country's rescue loans, three senior Greek government sources said late on Friday.

Greece and representatives of the European Union (EU) and the International Monetary Fund (IMF) had hoped to conclude the latest review of the country's reform progress under the terms of its international bailout by Monday, when euro zone finance ministers meet in Brussels.

But the talks will not be over by then because the two sides are still at odds over a range of issues, mainly on structural measures to boost the economy's competitiveness and over Greek lenders' capital needs.

"The distance between us has narrowed but we will still have work to do next week," one Greek senior government official told reporters after a new round of talks with lenders.

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