News Summary: Greece may get 2 more years

AP News
Posted: Nov 12, 2012 2:04 PM

MORE TIME? Greece's international creditors are thinking about giving the country two more years to meet its debt-reduction targets, according to a draft document obtained by The Associated Press Monday.

IFFY: The draft memorandum of understanding lacked crucial specifics on how much additional assistance the country would need and how that shortfall should be addressed.

WAY OFF TRACK: The main aim of the bailout program is to get Greece back to a point where it no longer relies on international aid and can raise money on the debt markets. But the program is way off track, and deep disagreements persist among its creditors on how to right it.