http://www.globalderivativesusa.com/fkn2342frt

By Simon Miller

Negotiations over Greece's bailout have been paused until next week after "intense" talks between the country and its international creditors.

Talks have been ongoing since September but talks have been suspended with the International Monetary Fund calling on Europe to carry any further costs relating to a relaxation of terms for the trouble country.

IMF representative Thanos Catsambas told Greek newspaper Ekathmerini that there wasn't any money left from the fund.

He commented: "Any additional funding in any form will come exclusively from Europe. The IMF has exhausted its possibilities to extend the loan beyond the amount approved last March. Therefore, and even if the IMF considers OSI to be the most advisable solution, the final decision rests with Greeceā€™s European partners and will be determined by the political and institutional restrictions faced by governments and the ECB."

Speaking at a press conference today, EU Economic Affairs spokesman Simon O'Connor said: "The discussions since the beginning of September have been very intense."

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