Juncker 'confident' of eurozone decisions on Greece on Monday

Eurozone finance ministers will be set to take ”all the necessary decisions” on Greece Monday after Athens met conditions for a bailout, the Eurogroup chief said Wednesday.

”I am confident that the Eurogroup will be able to take all the necessary decisions on Monday,” Luxembourg Prime Minister Jean-Claude Juncker, head of the group of eurozone finance ministers, said in a statement.

Juncker said after a conference call between the 17 finance ministers that ”substantial further progress” had been made since Tuesday, when eurozone partners were still waiting for Athens to fulfill the conditions.

Greek political leaders were told to deliver a letter pledging to implement budget cuts and economic reforms even after April elections and find another 325 million euros in cuts.

The ministers were also waiting for a report from the troika of EU, IMF and European Central Bank auditors on the sustainability of Greece’s debt under the 230-billion-euro ($300-billion) rescue package.

”First, we received the strong assurances provided by the leaders of the two coalition parties in Greece’s government,” Juncker said.

”Second, the Troika finalized and presented its analysis on the sustainability of Greece’s public debt.

”Third, further technical work between Greece and the troika has led to the identification of the required additional consolidation measures of 325 million euros and the establishment of a detailed list of prior actions together with a timeline for their implementation.” [AFP]

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