Europe fails to seal Greek deal in clash with IMF

European finance ministers failed to agree on a debt-reduction package for Greece after battling with the IMF over how to nurse the recession-wracked country back to fiscal health.

21st November, 2012
Europe fails to seal Greek deal in clash with IMF
Herman Van Rompuy, president of the European Union, center, walks with Antonis Samaras, Greece's prime minister, right, as he arrives at the European Council headquarters in Brussels.

European finance ministers failed to agree on a debt-reduction package for Greece after battling with the International Monetary Fund over how to nurse the recession-wracked country back to fiscal health.

With creditors led by Germany refusing to put up fresh money or offer debt relief, the finance chiefs were unable to scrape together enough funds from other sources to help alleviate Greece’s debt burden, set to hit 190 per cent of gross domestic product in...

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