June 21, 2011
Greece will get its next quarterly installment of bailout money only if the country's Parliament passes a contentious package of budget measures, European finance ministers said after a two-day meeting in Luxembourg.
They also made long-planned changes to the euro zone's bailout funds.
The ministers deferred any final decision on the installment payment until early July, after the vote in Parliament, and showed modest signs of progress toward a broader agreement for a bigger package of aid to Greece for coming years. They set another meeting for July 3.
French Finance Minister Christine Lagarde said France had initiated two conference calls with its counterparts in the Group of Seven—the U.S., Germany, Italy, Japan and the U.K.—to discuss Greece's economic troubles.
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