REPORT: Greek Bailout Negotiations Have Broken Down

Greek prime minister Antonis Samaras

Photo: flickr / European People’s Part

Per Bloomberg, the Athens News Agency is reporting that talks between Greece and its troika of international lenders – the EU, ECB, and IMF – have broken down.The state-run news agency’s story, via Bloomberg:

A second meeting between the heads of the EU-IMF troika mission in Athens and Greek Labour Minister Yiannis Vroutsis on Tuesday afternoon ended abruptly a few minutes ago, after the two sides hit deadlock for the second time in the same day.

Sources in the labour ministry cited “complete disagreement” between the two sides on the issue of three-year wage maturation periods. They said that the labour ministry had been prepared to continue the talks but the representatives of Greece’s creditors had departed.

Perhaps the bullish sentiment toward Greece is a bit early.

Europe has another big crisis, and it’s MUCH bigger than sovereign debt >

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