Greece, troika meet to wrap up talks: source

Reuters News
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Posted: Oct 10, 2011 4:03 AM
Greece, troika meet to wrap up talks: source

ATHENS (Reuters) - EU, IMF and ECB mission chiefs meet Greek Finance Minister Evangelos Venizelos on Monday morning with the intention of concluding talks on a key aid tranche, a source close to the negotiations said.

"We are working on the assumption that meetings will wrap up today," the source close to the talks told Reuters on condition of anonymity.

The mission chiefs will then likely issue a joint statement on Monday or Tuesday, to conclude their visit.

Once this is done, inspectors will prepare reports for euro zone finance ministers and the IMF's board, who will decide on the aid tranche.

Athens could run out of cash as soon as mid-November without the new 8 billion euro aid installment, increasing the risk of a default that would drag the euro zone deeper into a debt crisis already shaking financial markets worldwide.

Senior officials from the so-called troika of EU, IMF and ECB inspectors said last week they expected to conclude their review soon but first wanted to receive more details on the implementation and impact of plans to slash the public sector workforce and increase taxes to plug a bigger-than-targeted fiscal gap.

(Reporting by Ingrid Melander; Editing by Toby Chopra)