Fin24

Greek debt talks slowed on labour deal

2012-02-05 13:11

Athens - A senior Greek official says debt talks needed to avoid bankruptcy in March have reached "a satisfactory level of agreement" but are being held up by a disagreement over labour reforms.

The official, with close knowledge of the negotiations between the government and rescue creditors, said late Saturday that other issues had been resolved following a "superhuman negotiation."

He asked not to be named because the talks are ongoing.

Debt inspectors representing eurozone countries and the International Monetary Fund are pushing for tougher austerity measures and private sector pay cuts before approving a new ?130 billion ($171.08 billion) bailout deal.