EU and Greece to begin technical talks on funding Wednesday

Arirang News 2015-03-10

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Greece is set to hold technical talks with its creditors in Brussels on Wednesday on its 2-hundred-40 billion-euro bailout program.
Eurozone finance ministers are treating the matter with urgency, as Greece runs out of cash.
Shin Se-min reports.

European finance ministers are impatient,... saying there is "no time to lose."
The troubled Greece is quickly running out of funds and must repay its IMF loan installment by the end of the month.
Europe's finance ministers have criticized Greece for wasting time.
Chairing a meeting with eurozone finance ministers on Monday, Dutch Finance Minister Jeroen Dijsselbloem said technical talks on further funding for Greece would start on Wednesday.
The Eurogroup chairman says eurozone member nations are ready to support Greece if it continues on the economic reform path.


"The talks have to start today rather than tomorrow, so we shouldn't waste so much time. The extension is only for four months and the time is ticking away."

The eurozone agreed last month to extend Greece's bailout program until June,... and it is hoping to approve a detailed list of reforms by next month.
So far, Athens has only outlined its proposals in broad terms,... describing seven reforms it wants to launch.
The proposals will be soon discussed with the three institutions dubbed the troika -- the European Commission, the European Central Bank and the IMF.

In the meantime, the European Central Bank began its 1-trillion-euro quantitative easing program on Monday,... as Europe's national central banks began picking up the debts of their own governments.
The euro fell to its lowest level against the U.S. dollar in 11-and-a-half years on Monday,... ending at $1-dollar-and-8-point-5 cents,... spurring talks of euro-dollar parity.
Shin Se-min, Arirang News.

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