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No Bailout Money Yet  for Greece
World Economy

No Bailout Money Yet for Greece

Greece and its creditors have postponed an agreement to unblock a new disbursement from the Greek bailout and on debt relief measures, euobserver reported. The deal will now be re-examined in mid-June, Eurogroup President Jeroen Dijsselbloem said after a late-night meeting in Brussels on Monday. “We have not reached an overall agreement,” he said. “We were unable to close the gap between what could be done and what some of us expected could be done.” The agreement stumbled on how to ease the Greek debt burden, in discussions that pitted the EU, especially Germany, against the International Monetary Fund. The IMF is one of the four creditor institutions–together with the European Commission, the European Central Bank and the European Stability Mechanism. The IMF insisted on measures that would reduce the cost of debt repayments for Greece in the medium and long-term if it was to take part in the €85-billion bailout program signed in 2015.

 

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