October 4, 2011 12:48 PM

printer

Eurozone FMs delay decision on Greece aid

Finance Ministers from the Eurozone have again delayed the decision on further aid to Greece saying it needs to do more to cut its budget deficit. However, the EU Economic Commissioner Olli Rehn said the focus should be on quality rather than speed. The Ministers also welcomed the decisions Athens has taken so far and strongly rejected speculation that the country might leave the Euro or default on its debts. The Finance Ministers, meeting in Luxembourg, also appeared to have reached a deal to let Finland receive collateral security for its contribution towards the Eurozone bailout fund – the European Financial Stability Fund. Finland had threatened to block further bailouts to Greece unless it received this special arrangement.

Most Read
View All arrow-right

No posts found.