FINANCIAL TIMES: Eurozone finance ministers dismissed as incomplete a reputed €3.3bn package of Greek budget cuts presented to them in the hope of securing a new €130bn bail-out and sent the country’s finance minister back to Athens with a fresh set of demands and an urgent deadline…
In exchange for signing off on the loan, which Greece is depending on to avoid a potentially chaotic default next month, its lenders are demanding €325m in further cuts to this year’s budget, parliamentary approval of a sweeping reform package and a pledge from the country’s political leaders to ensure that they will maintain their commitment after April elections…
‘In short, there is no disbursement before implementation,’ said Jean-Claude Juncker, the prime minister of Luxembourg and head of the eurogroup, bemoaning a succession of broken promises from Athens…. (more)
