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« Embry - Propaganda, Lies & A World Headed For Disaster | Main | Recovery Coming, Not Anytime Soon: Rick Rule »
Sunday
Mar092014

Greece to miss deadline for rescue loan deal

Capitalisation of country's banks is key issue for European Union and International Monetary Fund officials

Greece is set to miss a deadline on Monday to clinch a deal which would allow the country to access the next tranche of international rescue funding.

The country's leaders, representatives of the European Union and the International Monetary Fund had planned to conclude the latest review of the international bail-out by March 10, when eurozone finance ministers gather in Brussels.

However senior sources inside the Greek government fear that the talks will overrun because the two sides are still in conflict over a number of key issues, such as the structural measures to boost the economy's competitiveness and capital needs of major Greek banks, according to a report from Reuters.

Greece has already obtained €218bn euros of rescue loans but failure to work together with the world's financial leaders could jepodise further funds.

One of the key issues being discussed is how much capital the country's banks require.

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