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Decisions on Aid Plan in Second Half of October

Jean-Claude Juncker

Jean-Claude Juncker, the head of the eurogroup of finance ministers, says Greece will not learn whether it΄s done enough to get its next batch of bailout cash for at least a month.
Juncker says Friday at an informal meeting of euro finance ministers in the Cypriot capital that decisions on Greece will not likely be made until the second half of October, the Associated Press reported.
The Greek government is trying to cobble together an €11.5 billion austerity package to satisfy its international creditors.
The country is currently being assessed by debt inspectors and Juncker doubts their report will be ready in time for a decision in the first half of October.
Juncker also said he was encouraged by remarks from Spanish Economy Minister Luis de Guindos that the country would do more to reach its deficit targets.
Greek finmin: Greece was a small part of discussions today
International lenders are likely to reach final decisions on the revised financing program for Greece in the second half of October, Greek Finance Minister Ioannis Stournaras told reporters on Friday, according to Reuters.
“Greece was a small part of discussions today. The climate was rather positive. We will try to finish everything by the end of October,” Stournaras said after a meeting of euro zone finance ministers.
“There is progress in discussions with the troika (international lenders), we will try to finalize (that) as soon as possible, to be ready for final decisions at the latest by end of October,” he said.
Greece is in talks with the International Monetary Fund, the European Central Bank and the European Commission on a revision of its 130 billion euro second bailout after it fell behind with required reforms because of two parliamentary elections.
(source: AP, Reuters, Capital)

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