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Eurozone finance ministers edge towards Greek deal

20/11 20:16 CET

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Eurozone finance ministers are close to a deal on paying out the next installment of bailout aid to Greece.

It could be approved as early as Tuesday, although the money will not be disbursed before December.

Plans to reduce Greek debt to sustainable levels will require further talks.

Eurogroup president Jean Claude Juncker said: “It’s clear that Greece has delivered. We’ll need to agree on some details, but i think chances are high that we come to an unanimous final solution this evening.”

Greek public debt will likely peak in 2013 to 190% of GDP due to its deepening recession. The troika initially wanted it to be 120 percent by 2020, but it is predicted to be closer to 150 percent.

The EU is ready to give Greece two more years to reach that goal, but officials will have to convince the IMF to agree.

IMF Managing Director Christine Lagarde said: “We are going to work very constructivly to see if we can find a solution for Greece, thats what is really our goal, our purpose and our mission.”

Euronews correspondent in Brussels Isabel Marques da Silva said “the Greek government wanted to show its will to implement the cuts in the coming months and has already announced a cabinet reshuffle for December.”

http://www.euronews.com/2012/11/20/eurozone-finance-ministers-edge-towards-greek-deal/


Added: Nov-21-2012 Occurred On: Nov-21-2012
By: gemini
In:
Regional News, Politics
Tags: greek, bailout
Location: City of Brussels, Belgium (load item map)
Views: 270 | Comments: 9 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • As long as we dont have to pay any pennies, then do whatever the fuck you want. You will anyway.

    Posted Nov-21-2012 By 

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    • @para001

      ...greece need euros. plse change your pounds/pennies to euros at the airport or so, before transfering to greece. thank you! :)

      Posted Nov-21-2012 By 

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    • @restonva69 Im afraid my german chum that you guys are running the euro from here on in. In the future i bet you have to pay more than other countries.

      Posted Nov-21-2012 By 

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    • @para001

      ...i just hope that everything will be ok to us all! u understand? ... i dont know how this system works...i am a normal guy. i want work, a decent payment and i want to live my life. thats all!

      Posted Nov-21-2012 By 

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    • @restonva69 As we all do. The EU is ripping us all off my friend. They are now trying to tax our fuel by increasing it. They now rule over our courts and over turn decisions that make no sense. They have not even been elected by the UK in any legal vote to have that say. They are and will continue to grap more money and power over every nation they can.

      Posted Nov-21-2012 By 

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  • Good money chasing bad money down a Greek sewer. Set them loose, cut your losses before they flush you down as well.

    Posted Nov-21-2012 By 

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  • Greece´s in big trouble,they´ve ti do something but bailing out can´t be no way of the future,it does not exactly call for more responsible governing so it doesn´t solve the issue really,there´s still big time recession,they need to get economy going again which takes confidence in the system,which there by all means n rightfully so simply isn´t,social welfare is an alternative,who´ll pay for that :O

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  • My family and I are off to Santorini next year, possibly for a month, so we'll be doing our bit for the Greek economy.

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  • Ah, the banking mafia turning the thumbs screws on Greece again. The (I use this term laughably) Bail-Out forces Greece to sell its assets, the banks myriad of venture capitalists etc buy up all the assets cheaply and make a killing.

    The poor guy in the street is left to pay for it!

    Posted Nov-21-2012 By 

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