Euro zone finance ministers to discuss Greece in Brussels

Record ID: 165930

  • Title: Euro zone finance ministers to discuss Greece in Brussels
  • Date: 26th January 2017
  • Summary: BRUSSELS, BELGIUM (JANUARY 25, 2017) (REUTERS) EXTERIOR OF EUROPEAN COUNCIL BUILDING MILITARY GUARDING COUNCIL ENTRANCE EU FLAGS OUTSIDE COUNCIL BUILDING
  • Embargoed: 9th February 2017 17:03
  • Keywords: EU Greece bailout IMF euro zone finance ministers
  • Location: BRUSSELS, BELGIUM
  • City: BRUSSELS, BELGIUM
  • Country: Belgium
  • Topics: European Union,Government/Politics
  • Reuters ID: LVA00160PYGCN
  • Aspect Ratio: 16:9
  • Story Text:Greece hopes stronger than expected public accounts in 2016 will convince its lenders to sign off on a bailout review without demanding more austerity, government officials said before eurozone finance ministers met in Brussels on Thursday (January 26).
    Both the European Commission and EU finance ministers were positive upon arrival to the meeting, stating Greece outperformed its fiscal targets in 2016 and is likely to meet fiscal goals this year, putting it on track to meet its primary surplus target in 2018. They also said the eurozone still wanted the International Monetary Fund to fully participate in the bailout for Greece, the third since 2010, downplaying reports that - unlike in the previous two programs - the eurozone was now ready to go it alone with Athens.
    Greece's leftist-led government, which signed up to a new bailout program in 2015, wants to conclude the review to join the European Central Bank's bond buying program, which would cut its borrowing costs.
    It also wants to return to bond markets by the end of 2017, one year before its rescue program ends.
    The IMF, which has yet to decide whether it will participate in what is the country's third rescue program, says it cannot achieve its targets unless it adopts more austerity measures and is granted more debt relief.
    The Greek government official said the latest primary surplus projection includes the impact of a one-off payout to pensioners of about 600 million euros. Greece has promised to achieve a primary surplus of 1.75 percent of GDP this year.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register