Troika breaks off talks on budget cuts

IMF envoy Poul Thomsen isnt talking for now Greeces negotiations with international lenders hit another snag today when the envoy of the International Monetary Fund (IMF) broke off talks and said he had to brief the agencys chief, Christine Lagarde on the lack of progress, as daily Kathimerini website reports. The abrupt departure of Poul Thomsen, the head of a team that also includes representatives from the European Union and European Central Bank in the so-called (EU-IMF-ECB) Troika, postponed the talks, dashing Prime Minister Antonis Samaras' hopes of reaching a deal on 13,5 billion euros in spending cuts and tax hikes before an October 18 meeting of EU leaders. Thomsen was meeting with Labor Minister Yiannis Vroutsis when he announced that talks over public sector reform would have to be postponed so he could brief the IMF chief. His departure was followed by that of EU envoy Matthias Mors and the ECBs representative Klaus Mazuch.