BUSINESS

Greece, creditors remain apart in talks on reforms

TAGS: Economy

Greece’s government and its bailout creditors remain apart in talks about new reforms, but Athens says a deal can still be achieved by early next month. That would unlock more bailout funds for Greece, and start the ball rolling for modest measures to relieve the country’s crushing debt.

The Finance Ministry said Tuesday that the weeklong talks in Athens made “significant progress.” But the two sides remained apart, mainly on thorny labor reforms, as creditor representative left the Greek capital.

The left-led government wants to strengthen unions’ wage bargaining powers, and is resisting pressure from its creditors – European Union institutions and the International Monetary Fund – to facilitate private sector layoffs.

The ministry said it hopes to strike an agreement by December 5, when finance ministers from countries that use the euro will discuss the Greek program.

[AP]

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