Finance Minister Čufer in Brussels for Finance Ministerials

08. 07. 2013

Finance Minister Čufer in Brussels for Finance Ministerials

Finance Minister Uroš Čufer will attend a meeting of eurozone finance ministers in Brussels on Monday, followed by a meeting of EU finance ministers on Tuesday. The main item on the agenda of eurozone ministers will be the next EUR 8.1bn tranche of aid to Greece.

The eurozone ministers are also to examine the situation in Portugal, where the financial crisis is claiming its toll on the government.


Also attending the meeting will be International Monetary Fund (IMF) director Christine Lagarde. Her presence is considered an indicator that the situation in the eurogroup is becoming more tense again.


Greece is counting on having the next tranche approved, however international lenders are not too happy with the country's progress in public sector reform.



The troika - the European Commission, European Central Bank (ECB) and the IMF - are yet to say whether the next tranche should be approved.


A decision is expected at today's meeting at the latest, however a delay cannot be excluded and the new Greek Minister responsible for public sector reform Kiriakos Micotakis said only last week that the country would need more time.


Greece needs the money by August when the country is to repay EUR 2.2bn. There is however the possibility of short-term funding, so sources in Brussels do not believe the country will go bankrupt even if the next tranche is not approved today.


Source: Slovenia Times

Finance Minister Čufer in Brussels for Finance Ministerials