Brussels skeptical about Greece

BRUSSELS, Feb. 11 (UPI) -- Financial leaders in Europe have told Greece to find an additional $430 million in budget cuts, in an atmosphere of mistrust, media sources said.

The lack of trust is showing up in various parts of the complicated agreement, The New York Times reported Saturday.

For one, about 70 percent of the $171 billion bailout, should it be approved, would be put in a special account designated exclusively to making payments on Greek debt, some officials have said.

The implication is that Greece would otherwise spend the money unwisely.

The lack of trust also showed up when German Finance Minister Wolfgang Schauble challenged Greek Finance Minister Evangelos Venizelos on his failure to include unions in on negotiations in Athens for Greece to lower its minimum wage, the Times reported.

Separately, the chairman of the eurozone council of economic ministers, Jean-Claude Juncker of Luxembourg, said, "We cannot live with a system where promises are made and repeated and repeated and implementation measures are from time to time too weak."

That weakness has shown up in Greece's pledge to raise money by selling $66 billion worth of government assets. Greece has reduced the estimate, saying it can only raise $25 billion by the 2015 deadline.

Separately, Greece's Deputy Finance Minister Pantelis Economou said Greece would reap $11.3 billion from tax evasion penalties since 2010.

The daily newspaper Kathimerini, however, said only 1 percent of the fines had actually been collected.