Arab Today, arab today imf eu pour cold water on greek debt deal hopes
Last Updated : GMT 21:36:26
Arab Today, arab today
Arab Today, arab today

IMF, EU pour cold water on Greek debt deal hopes

Arab Today, arab today

Arab Today, arab today IMF, EU pour cold water on Greek debt deal hopes

Greece vs Everybody
Brussels - AFP

Greece's creditors piled pressure on cash-strapped Athens on Thursday as the IMF pulled its team out of talks and the EU warned Athens to stop gambling with the possibility of default and a messy exit from the eurozone.

The International Monetary Fund said an agreement remained far-off after a five-month stalemate with Greece's anti-austerity government, which faces being unable to pay huge debts at the end of the month.

Eleventh-hour talks in Brussels between Greek Prime Minister Alexis Tsipras and European Commission chief Jean-Claude Juncker meanwhile broke up without reaching a deal on reforms in exchange for bailout cash.

"There are still major differences between us in most key areas," IMF spokesman Gerry Rice told reporters in Washington. "There has been no progress in narrowing these differences recently. Thus we are well away from an agreement."
The fund said its Greek talks team had returned to Washington from Brussels and that the "ball is very much in Greece's court right now -- although it added that "the IMF never leaves the table and remains engaged."

It said the key disagreements were on pensions, taxes and financing.

The IMF is the most hardline of Greece's three bailout monitors -- the others being the European Commission and European Central Bank -- who have demanded tough reforms in exchange for unlocking the remaining 7.2 billion euros ($8.1 billion) of its 240-billion-euro rescue package.

Without fresh external funding when the bailout expires on June 30, cash-strapped Greece is set to default on its debts, meaning it could crash out of the eurozone despite benefitting from two international bailouts since 2010.

- Crisis going to the wire -

Athens shares closed with an 8.16-percent leap on Thursday, shortly before the IMF announcement, on investors' optimism for a deal.

The crisis is now set to go to the wire with a Eurogroup meeting of eurozone finance ministers in Luxembourg on June 18 seen as the last chance to seal a deal in time to get it through national parliaments by the end of the month.
EU president Donald Tusk issued an unprecedented warning to Tsipras, telling the Greek government to stop "gambling" and saying the Eurogroup meeting would be "really crucial" and "decisive"

"There is no more time for gambling. The day is coming, I am afraid, that someone says the game is over," he told a press conference.

Thursday's Tsipras-Juncker talks, the second set in as many days and the third in a week, ended almost exactly as the IMF issued its statement, with both sides saying there was still no deal.

"We are working in order to bridge the main differences, especially the differences on fiscal and financial issues," Tsipras said after the talks on the sidelines of an EU-Latin American summit in Brussels.

The EU said Juncker had explained to the Greek leader Tsipras "a possible process with the three institutions that would still allow finding mutually acceptable solutions in time" -- but admitted there was no agreement.

Late-night talks between Tsipras, German Chancellor Angela Merkel and French President Francois Hollande on Wednesday also ended without a deal, producing only a pledge to "intensify" their efforts.

- Protests in Athens -
Tsipras, whose radical left Syriza party won elections in January with a promise to end five years of austerity, has refused to back down on the reforms demanded by Greece's creditors.

Fresh protests erupted in Athens as Communist trade union protesters occupied the finance ministry in the landmark Syntagma Square, hauled down the EU flag and draped a huge banner over the building.

"We have bled too much, we have paid, stop the new measures," said the banner.

Unions called for further protests later Thursday against a government "that no longer understands the real need of workers," a statement said.

Greece's public broadcaster ERT meanwhile came back on the air on Thursday, exactly two years after it was shut down by the previous government, which had accused it of being wasteful and mismanaged.
But the situation remains dire for Greece, with ratings agency Standard & Poor's on Wednesday further cutting its junk rating for Greek government bonds after it delayed a debt payment to the International Monetary Fund last week.

The head of the German central bank, Jens Weidmann, warned Thursday that the dangers of contagion from a possible Greek insolvency could not be "underestimated".

Greek officials had indicated a possible willingness to compromise on Wednesday on the issue of budgetary targets, adding that they were discussing a possible extension of the bailout until March 2016.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf eu pour cold water on greek debt deal hopes Arab Today, arab today imf eu pour cold water on greek debt deal hopes

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:43 2017 Wednesday ,22 February

South Africa budget throws light on fractured ANC

GMT 11:35 2017 Wednesday ,22 February

British economy grows 0.7% in final quarter of 2016

GMT 06:04 2017 Wednesday ,22 February

Hammond closes in on budget goal

GMT 05:34 2017 Wednesday ,22 February

Euro zone economy outlook shines

GMT 04:10 2017 Wednesday ,22 February

US stocks finish at another all-time high
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday