Greece set to miss another bailout deadline

ATHENS: Greece is set to miss yet another deadline for unlocking bailout funds this week, edging closer to a repeat of the 2015 drama that pushed Europe’s most indebted state to the edge of economic collapse.

Euro-area finance ministers meeting in Brussels will reiterate that the government of Alexis Tsipras has yet to comply with the terms attached to the emergency loans that have kept the country afloat since 2010.

While Tsipras had promised the long-delayed review of the latest bailout would be completed by yesterday, an European official said last week reaching an agreement next month was now considered a long shot.

The two sides are still far apart on reforms demanded by creditors in the Greek energy market and the government is resisting calls for additional pension cuts.

As discussions continued on how to overhaul the labour market, a finance ministry official said the issue could not be solved in talks with technocrats. Bloomberg