Eurozone finance ministers have agreed to give Greece until 2016 to meet its deficit-reduction targets, an extension of two years. However, the Eurogroup has delayed the release of the latest 31.5 billion euro instalment of bailout funds.
The Eurogroup President Jean-Claude Juncker said there would be a further meeting on November the 20th. “Eurogroup expect that by that time, the necessary elements will be in place for member states to launch the relevant national procedures required for the approval of the next EFSF (European Financial Stability Facility) disbursement, subject to the Troika’s final positive assessment of all prior action by the Greek authorities.” he told a press conference in Brussels.
However, there is disagreement rather than delay, over how to make Greece’s debt sustainable in the longer term. The IMF’s Christine Lagarde dismissed suggestions that the target date should be extended by two years. “There is still work to be done, in the next few days on both financing and debt and from our perspective at the IMF, we believe that the debt sustainability of Greece has to be measured in 2020 and our target is 120 percent.”
Greece must repay five billion euros of its debt by this Friday. Athens is expected to make an urgent bid to raise funds from the financial markets this Tuesday morning.
- 1Putin adds diplomatic strand to bolster Syrian air strikes
- 2Russian cruise missiles strikes prompt global aviation officials to issue safety alerts
- 3Russia tries to reassure Saudi Arabia over Syria air strikes
- 4Iraqi military claims to have killed several senior ISIL members including leader al – Baghdadi
- 5Belarus election: Lukashenko wins landslide of more than 80 percent – exit polls
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2NASA discovers evidence of “liquid briny water” flowing on Mars
- 3Latest News Bulletin
- 4At least 220 dead in stampede outside Mecca, Saudi Arabia reports
- 5Why aren’t rich Gulf states welcoming Syrian refugees…or are they?
- 6[Live] All the Rugby World Cup news in one place
- 7International breaking news | euronews online world breaking news in video
- 8Why aren’t rich Gulf states welcoming Syrian refugees… or are they?
- 9International news | euronews, latest international news
- 10Which European countries offer the most social benefits to migrants?
- 11Syrian refugee tripped by shamed camera woman is named
- 12Spain: Catalan President faces ‘civil disobedience’ charges over breakaway vote
- 13Banzai back in the vocabulary as Japan passes law allowing combat deployments
- 14Exclusive: shipwatchers chart Russian hardware heading into Med
- 15Migrant tripped up in Hungary gets Spanish football job
- 16Israel agents ‘incite’ stone-throwing in West Bank
- 17Hungary’s army can shoot rubber bullets and tear gas at refugees
- 18Fifa suspends Blatter, Platini and Valcke
- 19Catalan president Artur Mas charged with organising illegal independence referendum
- 20[Live] Catalonia: separatists heading for clear win in crucial elections
Latest world news
Flight MH17: was shot down by a BUK missile fired from Eastern Ukraine – Dutch report
At least 5 dead, 20 wounded in “Day of Rage” in Israel
YPG militia alliance set to attack ISIL stronghold Raqqa “within weeks”
Iran’s parliament backs nuclear deal
Japanese tug-of-war over the fate of Okinawa US air base
Wires > News
- 13:36 CET Lake Chad’s swampy borderlands a ‘war zone’, U.N. agency says
- 13:34 CET Four killed in Bosnian mine collapse
- 13:24 CET Former senior China energy executive jailed for 20 years for graft
- 13:12 CET Hunger crisis hits northern Mali amid insecurity, violence – U.N.
- 13:01 CET Rising salinity threatens Bangladesh’s coastal communities –…
- 12:54 CET China detains 11 after trash incinerator protest sparks riot
- 12:33 CET EU migrant arrivals 170,000 in Sept – Frontex
- 12:24 CET Myanmar may postpone landmark November poll due to floods