European leaders won’t finalize Greece’s second aid program today because talks with banks over debt reduction aren’t completed, German Chancellor Angela Merkel said.
Leaders are also awaiting a European-International Monetary Fund assessment of Greece’s current needs and the status of its economic reforms, Merkel told reporters before a European Union summit in Brussels today.
“We won’t have a thorough discussion of Greece because the troika is in Greece and we don’t have a result of the talks with the banks,” Merkel said.
The summit will clear away the “last questions” over a planned deficit-control treaty that ensures German-style balanced-budget provisions to prevent a repeat of the crisis, she said.
(source: Bloomberg)
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