eurozone ministers to discuss greece
Last Updated : GMT 13:03:42
Arab Today, arab today
Arab Today, arab today

Eurozone ministers to discuss Greece

Arab Today, arab today

Arab Today, arab today Eurozone ministers to discuss Greece

Athens - AFP

Eurozone finance ministers were to confer by telephone on Saturday after 12 hours of talks in Athens failed to produce a breakthrough on a deal to bail out Greece, the Greek finance minister said. Evangelos Venizelos added that a planned meeting by eurozone ministers on Greece originally scheduled for Monday would now be held on Wednesday. "I will participate in a Eurogroup telephone conference at 1230 GMT" to discuss details of a rescue deal for Greece worth 130 billion euros ($171 billion) which officials have been trying to seal since October, the minister said in a statement. "Critical issues pertaining to the country's future remained open" after 12 hours of "tough" negotiations Friday with the European Union, International Monetary Fund and European Central Bank, he said. The three organisations, which rescued Greece in 2010 with an earlier loan, are demanding further labour cost cuts which Greek unions are refusing to concede amid fears that they could worsen an already deep recession. Venizelos will brief fellow cabinet ministers before another meeting with senior auditors from the EU, IMF and ECB, known locally as the 'troika', a finance ministry source said on Saturday. The political coalition backing Greece's interim government is strongly opposed to the troika's demands for further civil servant cuts and to a reduction in the minimum wage, currently at 750 euros. Prime Minister Lucas Papademos has reportedly threatened to resign if his coalition backers reject the demanded austerity measures. The government spokesman on Friday declined to comment on the reports. "I do not want to make such assumptions," spokesman Pantelis Kapsis told Real FM radio. "I think the political leaders and the prime minister will jointly take the decisions on how we will proceed from now on." Representatives of private holders of Greek debt are also returning to Athens this weekend for more negotiations on a crucial writedown Greece needs to avoid sovereign default. A spokesman for the Institute of International Finance, the global banking organisation leading the debt writedown talks, said in an email to AFP that IIF chief Charles Dallara and Jean Lemierre, adviser to French bank BNP Paribas, were headed to the Greek capital to continue the talks. Greece has been negotiating for months to obtain debt relief under the so-called Private Sector Initiative as a condition for receiving a second international bailout from the EU and the IMF, agreed in October. Eurozone governments and banks have both been playing hardball for weeks in their bid to reduce by at least half the 200 billion euros in privately held Greek debt. The country's overall debt stands at 350 billion euros. Papademos said in a statement Friday that Greece had nearly completed negotiations on the eurozone bailout which depends on the debt writedown. "We are in the final phase of a very critical procedure to form Greece's new economic programme and complete a loan deal that will lighten the load of the public debt and ensure the country's financing for many years to come," he said. Pressure is mounting for Greece to strike a deal with private creditors. The finance minister this week said an official offer to creditors must be made by February 15. Athens faces debt repayments of 14.4 billion euros ($19 billion) on March 20.

arabstoday
arabstoday

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*

eurozone ministers to discuss greece eurozone ministers to discuss greece

 



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*

eurozone ministers to discuss greece eurozone ministers to discuss greece

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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