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Greek financing talks break down

Feb. 16, 2015 4:19 PM ETBy: Stephen Alpher, SA News Editor48 Comments
  • At issue is Greece's refusal to request an extension of the current bailout program due to end on Feb. 28, as the new Greek government believes the terms are too harsh. Should a new pact not be in place, Greece could be unable to make debt repayments due the following month.
  • "There won't be anything," says Malta finance minister Edward Scicluna commenting on the implications of no bailout extension. "It would be a disaster."
  • Meetings of eurozone finance officials - even at the height of the debt crisis a few years back - are typically chummy affairs, but Greek PM Tsipras and his finance minister Yanis Varoufakis are making names for themselves with their highly confrontational style. One in Tsipras' government calls the draft statement put together prior to the start of the meetings, "absurd and unacceptable."
  • Jeroen Dijsselbloem - who heads the EU group of finance ministers - is hopeful for a "bridge arrangement" which would allow more time to forge an extension agreement.

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