Greece bailout funds deal hit by an early roadblock

May 23, 2017, 7:40 AM EDT
(Source: Karl-Ludwig Poggemann/flickr)
(Source: Karl-Ludwig Poggemann/flickr)

Just days after Athens announced a series of new austerity measures, a meeting of Eurozone finance ministers and IMF ended without reaching consensus on a deal that would unlock a fresh installment of bailout funds for Greece.

Although informal discussions are likely to continue ahead of the group's meeting on June 15, the development leaves Greece vulnerable to defaulting on a debt repayment due in July, writes the BBC.

Creditors, including northern European countries, are reluctant in lending cash to Greece unless IMF agrees to be the part of the third bailout, writes The Guardian.

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