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EU, IMF insist no Greek creditor deal yet

Published on Oct 25, 2012 11:48 AM

ATHENS (AFP) - Greece's finance minister announced he had agreed a new austerity deal with international creditors, but the EU and IMF insisted that while there had been progress, no deal had yet been thrashed out.

Yannis Stournaras told parliament Wednesday the so-called troika had granted a long-sought extension in return for a 13.5 billion euro (S$21.4 billion) austerity package needed to unlock funds vital to keep the country afloat.

But officials at both the European Union were quick to make it clear that the troika had not yet reached any agreement with Athens.

"Substantial progress has been made in talks with Greece but a few outstanding issues remain before a staff-level agreement can be reached," a spokesman for European economic affairs commissioner Olli Rehn said in a tweet.

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