Greece set to miss an­other bailout dead­line

New Straits Times - - Business -

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

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