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Friday 27.02.2015 | Name days: Līva, Līvija, Andra

Greek meeting with international lenders called off

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU Two steps forward, one step back. It is the way one could describe Europe’s effort to save Greece from a disastrous default on its huge sovereign debt.

Eurozone finance ministers had planned to meet on February 15 to discuss the second part of the international loan to Greece. However, Athens has failed to meet several austerity demands and the meeting has been cancelled, reports usatoday.com.

The fact it took place at the very last minute suggests that the euro area member states want much stricter guarantees before granting the heavily indebted country extra 130 billion euro (91.4 billion LVL).

Back in 2010, Greece was already granted 110 billion euro (77 billion LVL) loan.

Christos Papoutsis, the Greek Public Order Minister has announced that the government has made “superhuman” efforts to meet all the austerity demands put forth by the eurozone.

Eurogroup president Jean-Claude Juncker believes Greece has not showed that it is committed enough to the austerity measures, reports BBC.

BNN already reported, in order to get approval of the second credit assistance programme to Greece, the government of Greece has to meet certain demands.

Ref: 105.105.105.1011


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