More time for Greece?

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More time for Greece?

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Confusion surrounds whether Greece has been given the additional two years it wanted to meet its bailout targets.

Finance Minister Yannis Stournaras first told the parliament in Athens that details of the austerity measures has been finalised following months of negotiations and “Today, we obtained the extension”.

But a short while later he said they were still working on winning additional concessions from international lenders: “To a great extent, the negotiations have been completed, but even now, we are trying for improvements.”

European Central Bank chief Mario Draghi also said the review of Greece’s economy was not complete and it is only then that decisions could be taken on granting more time.

That view was echoed by German Finance Minister Wolfgang Schäuble who said a deal is not possible until the troika – the European Union, International Monetary Fund and the European Central Bank – concludes its report and the eurozone finance ministers have read it.