Time-out in Greek bailout talks: EU

Time-out in Greek bailout talks: EU
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Summary The negotiations cover measures to come into effect in 2013 and 2014.

The troika of international creditors called time out Friday on lengthy bailout negotiations with the Greek government, pending further consultations.The discussions since the beginning of September have been very intense, Simon OConnor, spokesman for EU Economic Affairs Commissioner Olli Rehn told a regular news conference, saying negotiators were leaving this weekend and returning in about a week.He said contacts would continue at all levels over the weekend.The negotiations cover measures to come into effect in 2013 and 2014 under the terms of the latest Greek bailout package and have been interrupted twice previously to allow additional consultations.A source from the Greek finance ministry told AFP earlier that Finance Minister Yannis Stournaras was hoping to finalise negotiations on fresh austerity measures with international lenders on Friday.The troika team of officials from the European Commission, European Central Bank and the International Monetary Fund was due to leave Athens on Saturday.
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