Sunday, May. 20, 2012 |
IMF asks Greece to cut wages, sees debt deal soon
Page last updated at 04:52 GMT, Wednesday, February 1, 2012 - 09:52 EST
CBS News:
Greece and the IMF said Wednesday that negotiations for landmark debt deals will be concluded in a "matter of days," raising hopes that the country will dodge a disastrous default in the spring.
Greece is in talks with private creditors to have them take losses on their bondholdings and with its international bailout rescuers to receive new loans.
"In the coming days, the agreements must be completed," government spokesman Pantelis Kapsis said.
Debt inspectors from the European Commission, European Central Bank and the International Monetary Fund, known as the troika, are in Athens for talks on a second euro130 billion ($171 billion) bailout package.
That deal is tied to an agreement with private creditors to accept losses on Greek bonds, which will cut euro100 billion off the country's national debt.
Read the whole story: CBS News
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