Saving Greece: Hard to Find a Deal in The Euro Area
by Euro zone leaders try to reach an agreement on a new financial assistance plan for Greece, but talks are deadlocked because of differences regarding the financial effort that it should submit creditor banks in the country, threatened with bankruptcy.
Euro zone leaders try to reach an agreement on a new financial assistance plan for Greece, but talks are deadlocked because of differences regarding the financial effort that it should submit creditor banks in the country, threatened with bankruptcy .
“I’m not sure we will find a solution next week , acknowledged Tuesday night, Luxembourg’s finance minister , Luc Frieden, after a meeting with his EU counterparts in Brussels, which lasted more than six hours and that not ended with no agreement, AFP writes.
Euro zone finance ministers are to meet again Sunday in Luxembourg, one day earlier than originally planned, and continue their discussions next day, “said Luxembourg.
His colleague Slovakia, Ivan Miklos , was also skeptical about the chance to decide next week a new support program.
Germany requires a new financial aid be accompanied by “private sector”, ie banks, insurers and other debt holders, said the German minister, Wolfgang Schäuble.
Official sources in the euro area for the agency told Reuters last week thatthe new external financial package prepared by the EU and IMF for Greece probably will total about 120 billion euros.
EU and the IMF granted a loan last year to 110 billion euros in Greece.
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