Bloomberg
February 4, 2012
Greece’s seven-month effort to win a second bailout from international creditors teetered in the balance as negotiations in Athens failed to clinch an agreement.
“The distance between success and failure, which could come from misfortune or misunderstanding, is very small,” Greek Finance Minister Evangelos Venizelos told reporters in Athens after meetings with government ministers and consultations with euro area finance ministers. “We are on razor’s edge.”
Venizelos said while room for agreement had been found on issues such as bank recapitalization and state asset sales, the government and the so-called troika of international creditors were still at odds over labor reforms and fiscal measures for this year. A call with euro-area finance ministers was “very difficult,” he said.
With the country’s stability at stake, the government is racing to clinch agreement on a plan that’s been in the works since July with talks between international monitors and Greek officials running in parallel with discussions among caretaker Prime Minister Lucas Papademos’s coalition members and Greece’s government and its private creditors.
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