Tuesday, May 31, 2011

Greek bailout review due in next two days











A European official says a mission of experts currently reviewing Greece's bailout program and negotiating new consolidation measures will likely conclude in the next 24 to 48 hours.

The report by experts from the European Union, the European Central Bank and the International Monetary Fund is central to any decision on providing more aid to Greece, which already received a euro110 billion ($157 billion) bailout.
However, the official said Tuesday that so far there is no consensus among other eurozone countries on new aid, despite increased pressure from European institutions in recent days.
The official said that the report will detail further austerity measures and the promised privatization program to help close funding gaps. He was speaking on condition of anonymity because discussions are still ongoing.



AP