Greek Markets Tumble as EU Holds Up Payment Amid IMF Doubts
- Government said to admit most bailout actions still pending
- IMF says reforms still needed, debt is highly unsustainable
The Athens Stock Exchange in 2015.
Photographer: Kostas Tsironis/BloombergThis article is for subscribers only.
Greek stocks and bonds fell on Monday after the government in Athens failed to bridge differences with European creditors over the conditions attached to the country’s latest bailout review and the International Monetary Fund warned that its debt is on an unsustainable path.
Almost two-thirds of the actions creditors have demanded for the disbursement of the next tranche of emergency loans have yet to be completed, the government conceded in a memo discussed between Finance Minister Euclid Tsakalotos and bailout auditors last week in Brussels, a person familiar with the matter said.