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NOT LOOKING GOOD EU, IMF Fail to Make Greek Deal Petros Giannakouris / AP Photo

EU, IMF Fail to Make Greek Deal

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.

November 21, 2012 6:50 AM