Talks with troika to conclude Monday

European Union, International Monetary Fund and European Central Bank mission chiefs met Greek Finance Minister Evangelos Venizelos on Monday to conclude weeks-long talks on a key aid tranche, sources close to the negotiations said.

Without the next 8 billion euro aid installment Athens could run out of cash as soon as mid-November, risking a default that would drag the euro zone deeper into a debt crisis already shaking financial markets worldwide.

“We are working on the assumption that meetings will wrap up today,» a source close to the talks told Reuters on condition of anonymity.

The EU, IMF and ECB mission chiefs, known as the troika, are then likely to conclude their visit by issuing a joint statement on Monday or Tuesday. Back in Brussels and Washington, they will prepare reports for euro zone finance ministers and the IMF’s board, who will decide on the aid tranche.

“There are some technical details remaining that need to be worked out. This will take place today or tomorrow morning,» a Greek finance ministry official said. «It is possible that we will not need another meeting with the troika.”

The inspectors resumed their review of Greece’s finances and reforms at the end of September, nearly four weeks after suspending talks over disagreements on the steps required to put the country’s finances back on track.

Senior officials from the so-called troika of EU, IMF and ECB inspectors said last week they wanted more details on the impact of plans to slash the public sector workforce and increase taxes before concluding their review.

The leaders of Germany and France promised on Sunday to unveil a new comprehensive package for solving the euro zone’s debt crisis by the end of the month. But they offered no details and papered over differences on how to shore up European banks.

[Reuters]