Bloomberg News

Greek Labor Issues Main Obstacle in Troika Talks, Official Says

February 04, 2012

Feb. 5 (Bloomberg) -- Greece’s negotiations with international creditors on a second financing package are at a standstill mainly on labor reforms, a finance ministry official said in Athens.

The official, who declined to be named, spoke to reporters after Prime Minister Lucas Papademos met with troika officials, who represent the European Union, European Central Bank and International Monetary Fund.

The 2011 budget deficit will be close to the set target, the official said. Greece’s 2012 budget, approved by lawmakers in December, forecast the 2011 budget deficit figure at 9 percent of gross domestic product.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Natalie Weeks at nweeks2@bloomberg.net


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