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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (23682)	5/29/2011 5:59:24 PM
From: Giordano Bruno	Read Replies (1) \| Respond to of 119361

Evidently it takes a week to do the math or that's what's being leaked. ATHENS (Dow Jones)--Greece said Sunday that talks with a visiting troika of European and International Monetary Fund officials was proceeding smoothly and was expected to conclude within days. In a statement, Greece's finance ministry said those talks were "proceeding satisfactorily and we expect them to be successfully concluded in the next few days." The statement follows an earlier report in Germany's Der Spiegel magazine that threw doubt about Greece's progress in implementing its promised austerity and economic reforms. The magazine report, released over the weekend, said that the delegation--composed of European Union, European Central Bank and IMF officials--had concluded that Greece had missed all of the fiscal targets set out for the country under the terms of a 110-billion-euro ($155.5 billion) bailout signed last May. But Greek Finance Minister George Papaconstantinou told a local television channel late Saturday that the report was "completely unrelated with reality." Likewise, the IMF took the unusual step of denying the report in a brief statement. "Recent media reports claiming knowledge of the findings of the review mission are untrue," the statement said. "Our discussions with the authorities continue, are making good progress and are expected to conclude soon." Local media say the troika visit may conclude by the end of this week. After that, the government is expected to detail some 28 billion euros in new austerity measures for the next five years, as well as commitments towards its ambitious 50-billion-euro privatization drive.