Eurogroup meeting is postponed
A CRUCIAL meeting of Eurozone finance ministers planned for today has been postponed, following doubts that Greece will stick to austerity measures necessary to receive its latest bailout.
The meeting of ministers known as the Eurogroup will be replaced by a telephone conference, chairman Jean-Claude Juncker admitted last night.
The delay is the latest setback for efforts to ensure Greece does not default on debt repayments of €14.5bn due on 20 March.
“I did not yet receive the required political assurances from the leaders of the Greek coalition parties on the implementation of the programme,” Juncker said last night.
Greek conservative leader Antonis Samaras is believed to have balked at signing a pledge that he will stick by the reforms and cuts agreed by parliament over the weekend.
All party leaders are required to sign the commitment, in order to prevent the measures being scrapped after fresh elections due in April.
Juncker also warned that Greek authorities and the troika – the European Union, European Central Bank and International Monetary Fund – have not yet reached a deal.
“Further technical work between Greece and the troika is needed in a number of areas, including the closure of the fiscal gap of €325m in 2012 and the debt sustainability analysis,” Juncker said.
An additional Eurogroup meeting scheduled for next Monday is still set to go ahead, Juncker said.
Patience with Greece among Eurozone and European Union leaders is believed to be close to breaking point.