Bailouts, Country Bankruptcy | featured news

Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.

Hours of talks between eurozone finance ministers on the imploding finances of Greece broke up early Monday morning without the ministers signing off on a vital installment of rescue loans needed to avoid bankruptcy next month.

The ultimate size will depend on whether Dublin merely tries to shore up and restructure its crippled banks, or whether a larger package is offered to give it more breathing room.