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Top ECB official Asmussen due in Greece on Wednesday

European Central Bank Executive Board member Joerg Asmussen will visit Greece on Wednesday to discuss progress on reforms, the ECB said, as talk swirls the country may need more support to meet budget targets.

Greece unlocked 5.8 billion euros ($7.75 billion) of bailout funds from its international lenders - the euro area, its national central banks and the International Monetary Fund - in July and stands to receive another 1 billion euros in October, subject to implementation of further reforms.

The troika of international lenders will return in Athens in the autumn to find out whether the government needs to find further savings to meet its 2015-2016 budget targets.

"In the run-up to the next troika review mission, ECB Executive Board member Joerg Asmussen will visit Athens for bilateral meetings with Greek policy makers and representatives of society and the business community to discuss the Greek adjustment program and wider euro area developments,» the ECB said in an emailed statement on Tuesday.

[Reuters]

ekathimerini.com , Tuesday August 20, 2013 (12:36)  
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