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Latest Greek debt negotiations reach stalemate

(Xinhua)

08:35, February 09, 2012

PARIS, Feb. 7 (Xinhua) -- The second round of negotiations over a bailout package for Greece has become deadlocked over several key issues.

In late October last year, EU leaders agreed to provide Greece with 130 billion euros (172.4 billion U.S. dollars) if it promised to implement more austerity measures. They also urged the private sector to accept debt writedowns on a voluntary basis.

The Greek government then started talks with major stakeholders at home and abroad, namely major political parties in Greece, the trio of public creditors -- the EU, the International Monetary Fund (IMF) and the European Central Bank (ECB), and the Institute of International Finance(IIF), which is representing the private sector in the debt crisis.


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