Greece Races to Finish Aid Review as Bank Restructuring Looms
- Foreclosure protection remains sticking point in talks
- Euro-area finance ministers to assess Greek compliance Nov. 9
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As Greece seeks to unlock rescue funds and its banks seek new capital for the second time in 18 months, the nation remains at loggerheads with its creditors over issues ranging from household insolvency law to the pricing of generic drugs, two government officials told reporters in Athens on Friday.
Euro-area finance ministers will meet on Nov. 9 to review the implementation of Greece’s latest bailout program, including dozens of measures demanded in exchange for the disbursement of a 2 billion-euro ($2.2 billion) portion of the aid package, and an additional 10 billion-euro backstop that will be used for the recapitalization of banks. Failure to complete the review could put the solvency of the sovereign and its lenders in doubt.