Greece: Eurozone ministers delay decision on vital loan
Baku, June 20 (AZERTAC). Eurozone finance ministers have postponed their decision on a 12bn euro ($17bn; £10bn) loan to Greece until it introduces further austerity measures.
The ministers said they expected to pay the latest tranche of an 110bn euro EU and IMF aid package by mid-July.
But it will depend on the Greek parliament passing 28bn Euros of new spending cuts and economic reforms.
The ministers also committed to put together a second bail-out package to keep the country afloat.
Jean-Claude Juncker, Luxembourg`s prime minister who chairs the meetings of the 17 eurozone finance ministers, said that as long as the Greek parliament supported the new measures, he was certain Greece would get a second bail-out.
The Greek government expects a second rescue package to be similar in size to the first one.
After a seven-hour meeting in Luxembourg that ended early on Monday, the finance ministers said they would not approve the disbursement to Greece of the 12bn Euros (8.7bn Euros from eurozone governments and 3.3bn Euros from the IMF) until the country`s parliament passed the fiscal strategy and privatization laws.
A statement issued by the ministers called on all political parties in Greece to: "support the programme`s main objectives and key policy measures to ensure a rigorous and expeditious implementation".
Officials said the plan was expected to fund Greece into late 2014 and total about 120bn Euros.
The agreement came after the eurozone ministers held a conference call with other members of the G7 group of rich industrialized nations.
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