Greece set for early Christmas present

13 January 2013

Greece was told yesterday that it could expect payment of a further €31.5 billion of rescue loans by the end of the month, although European finance ministers failed to settle differences with the International Monetary Fund on reducing Greek debt by a 2020 deadline.

The “eurogroup” of finance ministers agreed to meet next Tuesday to clear the remaining hurdles to a new austerity deal that includes a two-year delay in deadlines for Greece to meet its debt and deficit obligations.