Sunday, June 14, 2015

EU-Greece Talks on Debt, Bailout Fail to Bridge Gaps – Wall Street Journal

BRUSSELS—Negotiations this weekend between Greece and the European Commission failed to bridge remaining gaps and the issue of the Greek bailout will now be put into the hands of eurozone finance ministers, a commission spokeswoman said Sunday.

Spending and overhaul plans presented by the Greek government still remain as much as €2 billion ($ 2.25 billion) annually short of what has been demanded by its creditors, the commission, the European Central Bank and the International Monetary fund, said Annika Breidthardt.

"In addition, the Greek proposals remain incomplete," she said.

No further talks with the Greek government are planned until a meeting of eurozone finance ministers in Luxembourg Thursday, said Ms. Breidthardt. The eurozone portion of Greece's €245 billion bailout expires on June 30, the same day Greece faces a €1.5 billion payment to the IMF.

Write to Gabriele Steinhauser at gabriele.steinhauser@wsj.com

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