Greece's debt negotiations: The neverending story

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Greece's debt negotiations

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Greece and its creditors are halfway to reaching a deal. It sometimes seems they always will be

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“GREXHAUSTION” was the coinage of choice for one Greek television anchor Thursday night, as euro-zone finance ministers failed for the third time in four days to find a breakthrough in their talks over Greece’s bail-out. Throughout the week proposals and counter-proposals have bounced back and forth between Greece and its creditor institutions, slowly narrowing the differences over issues like pensions and VAT rates. But four days before its twice-extended bail-out expires and a €1.5 billion ($1.7 billion) payment to the IMF falls due, Greece and its far-left prime minister, Alexis Tsipras (pictured at left with Matteo Renzi, Italy’s prime minister, and Angela Merkel, Germany’s chancellor) still have no deal.
There is still time. The finance ministers plan to meet …

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