Eurogroup Chief: Lenders, Greece Should Agree Soon

By: Associated Press
By: Associated Press

LUXEMBOURG (AP) -- Greece and its international lenders need to reach agreement quickly on a program of reforms so the next tranche of aid can be released, according to the head of the group finance ministers from the 17 countries that use the euro.
Inspectors for the so-called "troika" -- the International Monetary Fund, the European Central Bank, and the European Commission -- are currently in Greece, looking for ways to balance the country's budget.
Jean-Claude Juncker, the eurogroup chief, speaking in Luxembourg after a meeting of the finance ministers of the 17 euro countries, praised Greek officials and their willingness to do what's necessary for the country.
Also, the finance ministers approved (euro) 800 million ($1036.64 million) in bailout money for Portugal. The remainder of the next (euro) 4.3 billion tranche of aid must be approved by the IMF and the full 27 EU finance ministers.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Alice W. Smith Location: London on Oct 17, 2012 at 02:34 AM
    They should've let Greece go out of the European Union to get their own currency and start all over. This business of bailouts is only shelling out good short term loans after bad. This whole nonsense continually makes news because there is really no other solution to the problem... Let's face it, the European Union is crumbling!
WILX 500 American Road Lansing, MI 48911 517-393-0110
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 173194441 -
Gray Television, Inc.