NEWS

Greece told to break bailout deadlock by Wednesday

TAGS: Euro, Economy

A Euro Working Group held via teleconference on Sunday failed to result in an agreement between Greece and its lenders ahead of Monday’s Eurogroup.

A high-ranking European official told Kathimerini's Brussels correspondent Eleni Varvitsiotis said it was agreed that the two sides would try to settle the outstanding issues by Wednesday so that another Euro Working Group, possibly with officials meeting in person, could be held on Friday.

During Sunday’s teleconference it was made clear to the Greek participants that Athens is already three weeks behind schedule, Kathimerini understands.

The key stumbling block is primary residence foreclosures. Greece has put forward stricter criteria that protects 60 percent of homeowners, while suggesting that this is then gradually reduced over the next years.

Greek officials will continue deliberating with their eurozone colleagues over the next hours in a bid to ensure that Monday’s Eurogroup does not end in a negative manner.

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