You are here: Home - Investing -

Eurozone fails to reach Greece deal

0
Written by:
21/11/2012
Eurozone finance ministers have failed to reach a deal to give Greece the next tranche of its bailout, after 12 hours of talks.
Eurozone fails to reach Greece deal

Ministers said they had made progress on measures to reduce Greek public debt, but needed more time for technical work, the BBC reports. Further meetings will be held on Monday.

“The Eurogroup has had an extensive discussion and made progress in identifying a consistent package of credible initiatives aimed at making a further substantial contribution to the sustainability of Greek government debt,” chairman of the Eurogroup Jean-Claude Juncker said.

Ministers have been considering ways of reducing Greece’s public debt, which is projected to rise to 189% of GDP by next year.

The country’s bailout programme aims to reduce this to 120% of GDP by 2020. Greece needs the next tranche of its bailout to avoid insolvency.

However, eurozone ministers and the IMF have disagreed over how to make the country’s debt manageable.

Greece has already received nearly 149bn euros from the eurozone and the IMF out of 240bn euros that has been approved in two bailout loans.

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
2226243-tax-avoidance
Tax avoidance costing exchequer £10bn

HM Revenue & Customs (HMRC) has failed to halt the widespread use of tax avoidance schemes.

Close