Greece Aims to Wrap Talks by End of January

Wall Street Journal
December 12, 2011

Greece aims to conclude talks with international creditors on the country's second bailout package by the end of January, Greek Finance Minister Evangelos Venizelos said Monday.

Preliminary negotiations on the €130 billion financial plan began Monday with international inspectors from the European Commission, the International Monetary Fund and the European Central Bank. The so-called troika arrived in the Greek capital late Sunday for a week of talks.

"Talks with the troika are crucial and difficult," Mr. Venizelos told reporters.

Discussion are likely to focus on €6 billion worth of new austerity measures for 2013-15 that Greece must detail by June. The inspectors will demand the country speed up tough structural reforms such as cuts in the minimum wage and overhauling the tax system.

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