EU, IMF Fail to Make Greek Deal

    A protester waves a Greek flag during a union protest outside Parliament in Athens, Wednesday, Nov. 14, 2012. Workers across the European Union sought to present a united front against rampant unemployment and government spending cuts Wednesday with a string of strikes and demonstrations across the region (AP Photo/Petros Giannakouris)

    Petros Giannakouris / AP Photo

    Euro-zone finance ministers and the International Monetary Fund failed for the second week in a row to come to an agreement on lowering Greece’s debt to a sustainable level. Without a deal, Athens cannot receive the emergency aid it needs to avoid bankruptcy—and Greece’s next debt repayment is due in mid-December. The IMF has refused to give Greece its extra two years to meet its debt target, and the euro zone has refused to write off Athens’s loans—the two options that could make Greece’s targets easier to reach.

    Read it at Reuters