Thursday, 9 February 2012Greek politicians have so far failed to reach final agreement on the reforms needed to receive a crucial 130 billion-euro ($170 million) international bailout to prevent the country from going bankrupt.
After the failure of talks early on February 9, Greek Finance Minister Evangelos Venizelos traveled to Brussels, where eurozone finance ministers were due to meet to discuss the Greek bailout.
Venizelos said he hoped "the eurozone will take a positive decision concerning the new aid plan."
In their talks, Greece's ruling coalition reached an agreement to approve new austerity measures -- but failed to agree to creditors' demands to make 300 million euros in pension cuts.
The European Union, the International Monetary Fund, and the European Central Bank, the so-called "troika" of Greek creditors, are demanding more cuts to wages, pensions, and state employment in exchange for the bailout.
Greece could default next month if a deal is not reached. |
Thursday, 9 February 2012
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