Skip to content
Subscriber Only
Markets

Greek Deal on Debt Relief Founders as Talks Stretch to June

  • Euro-area finance ministers meet in Brussels to discuss Greece
  • Greece’s creditors attempt to reach accord on debt load
Greece's Finance Minister Euclid Tsakalotos, left, speaks with European Central Bank President Mario Draghi during a Euro group finance ministers meeting on May 22, in Brussels.

Greece's Finance Minister Euclid Tsakalotos, left, speaks with European Central Bank President Mario Draghi during a Euro group finance ministers meeting on May 22, in Brussels.

Photographer: Emmanuel Dunand/AFP via Getty
Viktoria Dendrinou, Corina Ruhe and Joao Lima
Updated on

Euro-area finance ministers gathering in Brussels on Monday failed to break an impasse on debt relief for Greece, delaying the completion of the country’s bailout review and the disbursement of fresh loans needed to repay obligations in July.

After nearly eight hours of talks and multiple draft compromises, Athens and its creditors couldn’t reach an accord that would ease Greece’s debt and that would convince the International Monetary Fund to agree to help finance the country’s bailout.