Greek Bailout Talks Stall

Greek Bailout Talks Stall


Greece’s efforts to secure a second, 130 billion euro international bailout to avoid default by March 20 stalled Feb. 5.

Despite some progress on matters including recapitalizing the country’s banks, unresolved issues headed into the critical debt talk on Feb. 5 that included labor relations and private sector pay.

Rescue lenders have called for firings in Greece’s large public sector, a drop in the €750 ($985) gross minimum monthly wage, and cuts in lump-sum retirement payouts as part of a long list of cost-cutting demands.


Posted on Monday, February 06, 2012 (Archive on Monday, January 01, 0001)
Posted by NStaff  Contributed by
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