NEWS

Dutch not willing to give Greece more time

The Netherlands isn?t willing to give Greece more time to implement its reforms, acting Dutch Finance Minister Jan Kees de Jager said.

?We always have said we?re against any delay in the measures the country should take,? De Jager told reporters in The Hague today. While he reiterated the view that ?we should wait for the report of the troika? of international creditors, De Jager said that ?Greece must bear the costs of any delay.?

European policy makers are awaiting the report on Greece?s progress in meeting internationally agreed targets compiled by the so-called troika of the European Commission, the European Central Bank and the International Monetary Fund. The German Finance Ministry said today that it didn?t know when the report was due.

Greek Finance Minister Yannis Stournaras caused investor confusion on Oct. 24 when he told lawmakers in Athens that Greece had won approval for its bid to secure a two-year extension to 2016 for its bailout program. The Commission and ECB denied that a deal had been struck, saying the troika review is not yet complete. IMF chief Christine Lagarde is due to meet with French President Francois Hollande on Oct. 29 and German Chancellor Angela Merkel the following day.

De Jager is in his final weeks in office after his Christian Democratic Party CDA lost heavily in the Sept. 12 elections. Caretaker Prime Minister Mark Rutte, who won the elections and is close to forming a government with the Labor party, has also said that any additional time for Greece shouldn?t cost more money. [Bloomberg]