Financial Times
June 13, 2011
European finance ministers will hold an emergency meeting on Tuesday in an effort to narrow differences over a €172bn ($247bn) rescue package for Greece.
The bail-out deal is at risk of being derailed by a growing dispute between Berlin and the European Central Bank over the role of private bondholders.
Senior European officials said hardening positions on both sides made it unlikely that the standoff would be resolved at the afternoon meeting of eurozone ministers, which will be followed by an evening session involving all 27 EU nations.
But officials saw hope that ministers would be able to focus the dispute, so that negotiators could strive to achieve a deal before next week’s ministerial meeting, where the programme is due to be finalised.
“We need to clarify some basic choices,” said a senior European official involved in the talks. “We may well have to work on the basis of several options, but we’ll narrow down the options in any case so that we have a more meaningful way to move forward.”
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