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Sunday, May. 20, 2012 |  Syndicate content

EU finance ministers push back Greek bailout decision

Page last updated at 05:45 GMT, Friday, September 16, 2011 - 10:45 EST

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BBC:

Timothy Geithner is expected to urge European leaders to get their act together
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Eurozone leaders will decide in October whether to release the next 8bn euros (£7bn) in bailout loans to Greece.

Speculation about the timing had intensified following a visit to Athens by eurozone and European Central Bank officials earlier this month.

European finance ministers were meeting in Poland on Friday to try to seek a solution to the debt crisis.

Jean-Claude Juncker, Eurogroup chief, said Greece was making "significant" progress on budget reforms.

There will be a meeting of finance ministers in early October, with the funds released about 15 October - assuming there are no hitches.

Demands that Greece accelerate its austerity plans, and divisions among governments and policymakers over support for indebted eurozone members, has sparked turmoil in the financial markets.

Read the whole story: BBC

Watch from Reuters:

 

Greece-World News