ML-Implode News - Greek Economic Plan Draws Tepid Response; Now Needs $83 bln

Greece's economic proposals for a fresh bailout drew a lukewarm response Saturday, as European officials said the country would need â‚¬74 billion ($82.55 billion) in new funding over the coming years... There are many concerns both on the content of the proposals and the more difficult issue of trust," Mr. Dijsselbloem said. "Can the Greek government do what they are promising...
Several ministers cautioned that the best possible outcome of this weekend's meetings would be a go-ahead to Greece and the institutions to start negotiations on a full rescue package, which would include extra measures from Greece and the details of new financing...

During the talks, Germany, which is eager to keep new support to Greece to a minimum, is bound to clash with the IMF over the fund's demands for steep debt write-downs and its high financing estimates.

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Greek Economic Plan Draws Tepid Response; Now Needs $83 bln