Eurogroup ministers fail to get Greek bail-out deal
BRUSSELS (AFP) - Eurozone finance ministers failed at an emergency meeting on Wednesday to strike a deal to unblock bailout funds needed to keep Greece from bankruptcy and said they would try again next week.
The Eurogroup ministers said in a statement at the end of talks that ended in the small hours that no deal had been reached and they would meet again next Monday "for further technical work on some elements of the package".
The ministers went into the negotiations on Tuesday expressing confidence that a deal would be reached to unblock 31.2 billion euros (S$48.7 billion) in aid to Greece and resolve a rift with the International Monetary Fund (IMF) over how to get the debt-stricken state's economy back on track.
But the talks ended nearly 12 hours later with a statement saying only that they "made progress in identifying a consistent package of credible initiatives aimed at making a further substantial contribution to the sustainability of Greek government debt".