Thursday, October 29, 2020
Home World No deal between Greece and its international creditors

No deal between Greece and its international creditors

images

By NewsGram Staff writer

Negotiations between Greece and its international creditors ended up in failure on Sunday.

The talks between the two parties lasted for less than an hour, but were inconclusive.

European Commission’s spokesperson was reported by media outlets as stating, “While some progress was made, the talks did not succeed as there remains a significant gap between the plans of the Greek authorities and the joint requirements of Commission, ECB and IMF,”.

Reportedly the European Union officials blamed the collapse on Athens, stating that it had failed to offer anything new to secure the funding it needs to repay 1.6 billion euros ($1.8 billion) to the International Monetary Fund by the end of this month.

Europe wants Greece to make spending cuts worth €2bn (£1.44bn), to secure a deal. Mr Dragasakis, Deputy Prime Minister of Greece however added that the EU and IMF also wanted Greece to cut pensions, which Athens has said it would never accept.

Hopes to strike a deal now move to Thursday’s Eurogroup meeting in Luxembourg which many believe is the last chance before Greece’s EU bailout expires at the end of June.

(With inputs from IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,780FollowersFollow

Most Popular

Trending Jewelry for the Celebration of Karwachauth

Karwachauth is a special occasion for married couples. In addition to its symbolic importance, women also lay emphasis on how they look. Karwachauth fashion is...

Here’s How to Make Equipment-Free Workout Effective

If you think going to a gym and using equipment is the only way to an effective workout, think again! "Your body" is the...

Connaught Place Witnesses Dull Business During Diwali

Even as the people have begun to venture out in the wake of relaxations in restrictions amid the coronavirus pandemic, the footfall of potential...

Study Shows Rapid Decline of COVID Antibodies

Researchers in the UK have found that antibodies against COVID-19 declined rapidly in the hundreds of thousands of people across England. According to CNN, the...

High Intake of Vitamin A, E and D Leads to Fewer Respiratory Complaints

Amid the COVID-19 pandemic, researchers, including one of Indian-origin, have found that high intake of vitamins A, E, and D may be linked to...

Most Rely on Digital Communication to Stay Connected in Lockdown

COVID-19 has further accelerated the importance of digital connections in India, as a new survey on Wednesday revealed that nearly four out of five...

Scientists Reckon Risk of COVID Airborne Transmission

The continued increase in COVID-19 infections around the world has led scientists to study the dynamics of airborne transmission. In the study, published in the...

Hotel Occupancy Increased in India by 10-12% in September

The hospitality segment which was brought to a grinding halt by the pandemic is slowly witnessing an improvement in demand as hotel occupancy in...

Recent Comments