Monday, May 16, 2011

EU, IMF inspectors still see gaps in Greek plans - sources

EU and IMF inspectors will tell euro zone finance ministers on Monday that Greece has not yet answered all their questions on key fiscal and privatisation plans and they have not yet wrapped up talks, sources said.
"We are not finished yet. We will hold more meetings when (the inspectors) return to Athens," said a Greek government official who requested anonymity.
At stake is the next 12 billion euro tranche of bailout aid, which is scheduled for June, key to covering 13.7 billion euros of immediate funding needs. The Eurogroup will discuss any additional steps Greece must take before getting more aid.
Greece has agreed with the inspectors from the EU, the IMF and the ECB, known as the troika, to deliver more spending cuts and to reduce revenue targets to more realistic levels, sources said, but the inspection visit was not finished.
"The troika has put in questions to the Greek authorities about how they will close the gap between what is in the fiscal plan and what is really needed, and is waiting for answers," another source told Reuters on condition of anonymity due to the sensitivity of the talks.






REUTERS