Economics
EU Pressures Greece to Resolve Issues as New Debt Crisis Looms
- Further delay would hurt investor, consumer confidence
- Eurogroup reiterates calls for Greece to meet loan clauses
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The euro area pressured Greece to resolve outstanding pension and labor-market issues with its bailout creditors, as the country missed yet another deadline for unlocking funds this week.
The currency bloc’s finance ministers meeting in Brussels on Monday said that the government of Alexis Tsipras has yet to comply with the terms attached to the emergency loans that have kept the country afloat since 2010. The ministers’ Greek counterpart, Euclid Tsakalotos, will stay in Brussels through the week to continue negotiations with representatives of creditor institutions, in a sign of increasing urgency after months of talks failed to break the deadlock.