ML-Implode News - Greece's Creditors Weigh Extra Austerity Measures to Break Deadlock

Greece's creditors are considering seeking extra austerity measures that would be triggered if Athens misses its fiscal targets, in a bidÂ to bridgeÂ differences between Europe and the International Monetary Fund and break a deadlock threatening to unravel the Greek bailout... Greece would have to sign up to so-called contingency measures of up to about â‚¬3 billion, on top of the package of about â‚¬5 billion in tax increases and spending cuts Greece and its lenders are already negotiating.
The country would only have to implement the extra measures if falls short of targeted budget surpluses for coming years that were set out in last year's bailout agreement, the officials say.

The idea... would be politically hard for Greece's embattled government to swallow... Greek finance-ministry spokespeople weren't immediately reachable for comment. Athens, however, has argued that imposing even-more austerity measures would go beyond what was agreed in the July 2015 bailout deal, according to people familiar with Athens's thinking.

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Greece's Creditors Weigh Extra Austerity Measures to Break Deadlock