No bailout deal yet for Greece as meeting is cut short - WAOW - Newsline 9, Wausau News, Weather, Sports

No bailout deal yet for Greece as meeting is cut short

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 Major differences remain between Greece and its creditors, as eurozone finance ministers make plans to meet again tomorrow on Greece's proposals to avoid a default.

   A meeting today was cut short. Greece's prime minister held long talks ahead of time with key creditors. But they apparently failed to reach a compromise on the kind of reforms Greece will have to make in return for the loans it desperately needs.

   Greece has promised mainly tax increases. But the International Monetary Fund would like to see more spending cuts.

   A Greek government official says Athens is "unable to agree" on the proposals from the creditors, including fresh cuts in public sector payrolls and a timetable to scrap a pension safety-net fund.

   The Greek official described the negotiations as "very tough," but said there's a "common will to get somewhere."

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