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Eurozone gives Greece ultimatum for new bailout

Belgium: Eurozone finance ministers put off a decision Thursday on a new bailout to save Greece from bankruptcy, giving Athens less than a week to meet three conditions in return for 130 billion euros in aid.

The deadline was set after talks in Brussels between Greek Finance Minister Evangelos Venizelos and his 16 eurozone counterparts, who were unmoved by a deal rival Greek politicians struck hours earlier on austerity measures demanded by lenders.

"Despite the important progress achieved over the last days, we did not have yet all necessary elements on the table to take decisions today," Eurogroup chief Jean-Claude Juncker told a news conference.

The eurozone will hold a new meeting next Wednesday if all conditions are met, said Juncker, Luxembourg's prime minister.

Venizelos had urged his counterparts to endorse the debt relief deal, but the ministers first demanded that the Greek parliament approve the austerity measures agreed by the political parties when it convenes on Sunday. AFP

 

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