Greek bailout talks break down
Talks between Euro-zone finance ministers and new Greek government break down in anger.

Talks between Greece and its international creditors to find a way to manage the country’s public debt broke down Wednesday with little progress, the eurogroup’s chief said Thursday.

Jeroen Dijsselbloem, the head of the group of 18 finance ministers involved in the discussions, told the press that detailed proposals were not even discussed.

"It was my ambition to agree on the steps to take the next couple of days so we could spend them well and make more progress between now and Monday," he said. "Unfortunately, we've not been able to do that, so we will continue our talks on Monday and move on from there."

Meanwhile, Greek Finance Minister Yanis Varoufakis said he was not deterred by the breakdown in talks.

"We had a very constructive and extensive discussion of all the facets of the Greek crisis and the way in which the eurogroup can facilitate the transition to a new phase in the history of the Greek social economy, so we overcome the debt deflationary crisis, the humanitarian crisis and so on," Varoufakis said at the press conference following six hours of talks.

Greece has until Feb. 28 to come to an agreement with its international creditors or the government will run out of public funds.

Last Modified: 2015-02-12 09:55:52
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