Greece Struggles in Debt Deal

    A Greek flag is waved in front of the Greek Parliament while strikers march by during a protest march in Athens marking the 24-hours general strike on December 1, 2011. Greece's new government sees its resolve tested on December 1 as unions take to the streets against the latest austerity cuts demanded by its European peers in return for funds to keep the country afloat. Today's general strike, the sixth this year, has shut down public services and disrupted train and ferry services but flights were not affected and the Athens stock exchange was open, as was most of the capital's metro system. AFP PHOTO / LOUISA GOULIAMAKI (Photo credit should read LOUISA GOULIAMAKI/AFP/Getty Images)

    Louisa Gouliamako, AFP / Getty Images

    Greece’s struggle to reach a major deal with private-sector creditors—desperately needed to unlock the second round of bailout funds—continued Friday, as the negotiations between the Greek government and the European Union stalled. The EU agreed in October to cover the country's deficits over the next three years, but insisted that private creditors chip in and write off half of Greece's debt. But the details of the agreement, including how much money the International Monetary Fund will pony up, remain undecided. The country is under intense pressure to strike a deal as officials say time is running out.

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