Extension granted
Source: Agencies |
October 25, 2012, Thursday
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Print Edition
Print Edition
GREECE has been granted an extension from international rescue lenders to meet the terms of its bailout program, signaling progress after weeks of talks to secure emergency loan payments. Speaking in Parliament, Greek Finance Minister Yannis Stournaras said yesterday that Greece now has an extension to reform its finances, but gave no details. One of the conditions of Greece's current 240-billion-euro (US$311 billion) bailout program is that it reforms the economy so the country can return to the bond markets to raise money by 2014. Greece had asked for a two-year extension on this deadline.
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