Italy says recent progress has been made in Greece talks

Talks on a cash-for-reforms deal between Greece and its lenders took too long to get off the ground, but progress has recently been made in narrowing the distance between the two sides, Italian Economy Minister Pier Carlo Padoan said on Wednesday. Negotiators are still working to try to find a solution to Greece's difficulties after Athens defaulted on a 1.6 billion euro payment to the International Monetary Fund on Tuesday, Padoan said.