Greece Needs An Extra €30 Billion In Aid (WSJ) – Greeks Fail To Agree On Bailout Terms (Financial Times)

Greece Faces Need for Additional Assistance (Wall Street Journal, Oct 26, 2012):

BRUSSELS—Greece will need an extra €30 billion ($39 billion) in aid from its international creditors through 2016 to make up for a deeper-than-expected recession and a two-year delay in budget targets, senior European finance-ministry officials were told Thursday in their first detailed discussion on how to keep the debt-ridden country in the euro zone.

Greeks fail to agree on bailout terms (Financial Times, oct 25, 2012):

Greek politicians on Thursday failed again to finalise an overhauled bailout that would give them two additional years to meet tough deficit targets after a holdout leader of a small coalition party continued to resist sweeping labour reforms.

Fortis Kouvelis, head of the moderate Democratic Left, told his party’s executive committee last night that changes were needed in the labour measures for the package to be acceptable, according to a person at the meeting.

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