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Troika says Greek compliance improved but sees risks to program

The troika that oversees euro-area Greece’s bailouts said it sees “very large risks” to the Greek program, according to a draft of the troika’s report obtained by Bloomberg.

The troika, which comprises the European Commission, the European Central Bank and the International Monetary Fund, said Greece’s compliance has “perceptibly improved,” according to the draft. Giving Greece a two-year extension to meet budget targets would ease the impact of austerity measurs, the troika said.

The report adds that Greece might need an extra 15 billion euros of funding over the next two years.

Finnish Finance Minister Jutta Urpilainen said on Monday that the Eurogroup will “probably” meet on Greece again later this week as they don’t yet have all the information required to finalize a decision on a Greek rescue aid.

Urpilainen spoke to reporters before a meeting with her peers in Brussels.

[Bloomberg]

ekathimerini.com , Monday November 12, 2012 (17:11)  
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