A new tranche of bailout aid will quickly be
disbursed by Greece's creditors, Finance Minister Yannis Stournaras
said Friday, but Brussels indicated that Athens should not expect a
decision during a eurozone finance ministers meeting next week.
The chairman of Eurogroup panel of finance ministers nevertheless
expressed optimism that action would soon be taken, describing a new
round of austerity measures approved by the Greek parliament earlier
this week as "evidence of courage."
"(They) are very impressive and basically conform to our
expectations," Jean-Claude Juncker, who also serves as Luxembourg's
prime minister, told dpa Friday.
"Greece is working on fulfilling its duties and I have no doubt
that the other 16 eurozone governments will in turn rapidly comply
with their commitments to Greece," he added.
But Juncker also lamented that a report by the country's so-called
troika of international creditors - a prerequisite for the ministers
to make a decision - still has not been finalized. He promised
"speedy" action once "all elements" for a decision are provided.
Stournaras had earlier told reporters after a meeting with Greek
Prime Minister Antonis Samaras that "there is no reason to worry."
"The tranche will be released," he said.
But a top official in Brussels said eurozone finance ministers
will likely not decide on Monday whether Greece should get the next
installment.
While ministers are aware that Greece faces some 5 billion euros
of maturing treasury bills on November 16, more time is needed to get
the approval of EU national parliaments, the official said, speaking
on condition of anonymity.
Agreements on the long-term sustainability of Greek debt and on
future financing also need to be reached before the aid can flow.
But "there will be no (Greek) default on November 16," the
official insisted.
International creditors want Athens to slash its debt to 120 per
cent of gross domestic product (GDP) by 2020. But data released by
the EU this week showed that Greek debt is on track to reach almost
190 per cent of GDP by 2014.
Greek lawmakers on Thursday began debating next year's budget,
hours after parliament passed the new round of austerity measures,
another precondition for the country to receive its next round of
international aid.
The 31.5-billion-euro (40-billion-dollar) installment hinges on
the approval of the 2013 budget, which is scheduled for a vote on
Sunday.
