VIENTIANE: European Union president Herman Van Rompuy urged Greece on Tuesday to reach an agreement with its troika of creditors so that it can receive a new financial lifeline.
A meeting of European finance ministers to decide on the bailout funds has been deferred to November 12 to allow time for a deal.
Van Rompuy, who was speaking at a press conference in Laos where he attended a summit of Asian and European leaders, said parties needed to reach agreement on a privatisation law demanded by creditors.
"I urge the Greek government and leading political parties to decide on what is needed to reach a final agreement with the troika and I'm quite sure that this will be done in due time," he said.
"We are discussing still in Athens some remaining issues," he said, adding that the meeting of European finance ministers originally scheduled for November 8 was postponed by four days because work still needed to be done.
By that time, he said, the report of the troika of international creditors -- the European Union, International Monetary Fund and the European Central Bank -- would be ready for them to make a decision on the disbursement.
Greek lawmakers are debating an austerity bill that proposes 18.5 billion euros ($23.6 billion) in new spending cuts and other reforms by 2016, adding to previous rounds of painful measures.
Implementing the austerity plan is a condition for Greece to qualify for a 31.5-billion-euro tranche of bailout funds from creditors, or risk bankruptcy in mid-November.
indiatimes.com
A meeting of European finance ministers to decide on the bailout funds has been deferred to November 12 to allow time for a deal.
Van Rompuy, who was speaking at a press conference in Laos where he attended a summit of Asian and European leaders, said parties needed to reach agreement on a privatisation law demanded by creditors.
"I urge the Greek government and leading political parties to decide on what is needed to reach a final agreement with the troika and I'm quite sure that this will be done in due time," he said.
"We are discussing still in Athens some remaining issues," he said, adding that the meeting of European finance ministers originally scheduled for November 8 was postponed by four days because work still needed to be done.
By that time, he said, the report of the troika of international creditors -- the European Union, International Monetary Fund and the European Central Bank -- would be ready for them to make a decision on the disbursement.
Greek lawmakers are debating an austerity bill that proposes 18.5 billion euros ($23.6 billion) in new spending cuts and other reforms by 2016, adding to previous rounds of painful measures.
Implementing the austerity plan is a condition for Greece to qualify for a 31.5-billion-euro tranche of bailout funds from creditors, or risk bankruptcy in mid-November.
indiatimes.com
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