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No aid tranche deal seen on Monday despite Greek austerity

November 12, 2012 by legitgov

No aid tranche deal seen on Monday despite Greek austerity 11 Nov 2012 The euro zone will not release a new loan tranche to Greece on Monday despite the country's tough 2013 budget as there is no agreement yet on how to make its debt sustainable, but Athens is set to get two more years to cut debt, officials said. Euro zone finance ministers, called the Eurogroup, meet on Monday in Brussels where the main topic of their discussions will be unfreezing lending to Greece, held up after Athens went way off track with promised reforms and fiscal consolidation. The Greek parliament passed an austerity budget for 2013 late on Sunday and a structural reform package on Wednesday to meet conditions for the release of the next tranche of 31.5 billion euros of emergency loans from the euro zone.

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