Eurozone finance ministers are inching towards a provisional deal to pay Greece up to €44bn of long-overdue aid, but are still struggling to find a compromise over longer-term measures to reduce the country’s ballooning debt.
Finance ministers gathering in Brussels today are aiming for a tentative agreement to disburse the loans under an extended bailout programme, which would be formally approved after consultation with national parliaments, acc-ording to officials involved.
Yet differences between EU creditors and the International Monetary Fund remain over how to restructure Greece’s debt and whether it should be cut to 120 per cent of economic output by 2020, the benchmark for “sustainability”.
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