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Eurogroup delay on Greece

04. February 2012. | 11:19

Source: Athens News

A meeting of eurozone finance minister planned for Monday has been postponed for later in the week, due to delays in working out the country's multibillion debt deals.

A meeting of eurozone finance minister planned for Monday has been postponed for later in the week, due to delays in working out the country's multibillion debt deals.

EU officials said the meeting was now expected later in the week, as negotiations in Athens continued between the government and troika debt inspectors.

Hinging on the talks are Greece's €130bn new bailout and a related €100bn debt amnesty from banks.

Finance Minister Evangelos Venizelos also indicted the timetable was being pushed back, telling parliament that formal offers for banks participating in the write-off deal would ready on February 15, two days later than previously announced.

Delays in the agreements, bogged down over talks to cut private sector pay, also spooked the markets.

Shares on the Athens Stock Exchange closed down 3.82 percent at 762.15, slashing gains made earlier in the week.

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