Last chance for a debt agreement

The mission chiefs of Greece's creditors and the finance ministers of France, Germany and Italy will meet on Saturday morning with the aim of finding a way out of the impasse in talks between Berlin and the International Monetary Fund regarding Greek debt relief.

During breakfast on the sidelines of the G7 meeting in Canada the leading figures of the Greek program might just provide a final answer in terms of easing Greece's national debt. This decision will also determine the IMF's participation in a mini-program for Greece lasting up to August 20 with funding.

Expectations of such an agreement have been dampened given that German Chancellor Angela Merkel's party does not appear to consider the Fund's participation as necessary as it did in the past.

Eckhardt Rehberg, the spokesman of the CDU/CSU parliamentary group for budgetary policy, told the Finance Times on...