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Athens faces the prospect of running out of
money in three weeks unless it can convince lenders to dole out
more financial help.
Athens put a brave face on the failure to reach an agreement
with the "Brussels Group" of representatives from the EU and the
IMF, saying it remained intent on striking a deal on the basis
of its long-held demand that the measures it is asked to
implement do not hurt economic growth. Lenders will intensify
efforts to collect data in Athens, it said.
One source close to the talks said the halt in negotiations was
not a sign of a rupture but an indication of slow-moving
progress in the discussions.
At issue is a list of reforms that Greece presented to the
Brussels Group representatives last week, in an effort to show
lenders that it is committed to living up to pledges of
financial discipline and is worthy of aid.
But euro zone officials panned the list as a set of ideas rather
than a comprehensive plan. One EU official said the lenders had
yet to receive the list they had been waiting for.
A conference call of the Euro Working Group - euro zone deputy
finance ministers - remains scheduled for Wednesday and will
allow the bloc to take stock of developments so far, an official
said.
"We obviously look forward to receiving a list as soon as
possible. That's the aim of the ongoing discussions: to exchange
information on detailed reform measures and intentions," the
official said.
(Reporting by Lefteris Papadimas and Renee Maltezou in Athens
and Jan Strupczewski in Brussels, Writing by Deepa Babington;
Editing by Ruth Pitchford)
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