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EU ministers continue debating Greece bailout

Sunday, July 12, 2015 - 01:41

Euro zone finance ministers deliver mixed messages as talks continue over a third Greek bailout agreement. Sean Carberry reports.

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Story: To bailout or not to bailout - that is still the question. After a contentious marathon negotiating session on Saturday, euro zone finance ministers return to the table debating the fate of Greece. Austrian Finance Minister Hans Joerg Shelling. (SOUNDBITE) (English) AUSTRIAN FINANCE MINISTER, HANS JOERG SCHELLING, SAYING: "I am always optimistic but it is a very, very difficult negotiations because there are many points we have not agreed in between the Eurogroup and in between with Greece." One proposal is that Greece adopts additional austerity measures in order to receive a new three-year bailout loan. Germany has suggested Greece take a five-year timeout from the euro unless it accepts even tougher conditions, including selling of government assets to pay debt. Ministers have agreed in principle to restructure Greece's debt, but not to write it down. Greece has been asking for a partial writedown, or haircut. While a few ministers expressed optimism that everyone could soon agree on a deal to bailout Greece and keep it in the eurozone, Slovakian Finance Minister Peter Kazmir threw cold water that notion. (SOUNDBITE) (English) SLOVAKIAN FINANCE MINISTER, PETER KAZIMIR, SAYING: "No, no, it is not possible to reach a deal today. We can (make) certain recommendations for the heads of state, that is all. The breach of trust is so vivid it is not possible to achieve the deal." Athens defaulted on an International Monetary Fund loan repayment last month and faces state bankruptcy if it cannot make a bond redemption to the European Central Bank on July 20.

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EU ministers continue debating Greece bailout

Sunday, July 12, 2015 - 01:41