February 13, 2012
European officials rushed to finalise details of a €130bn Greek bail-out on Monday amid signs Germany and its eurozone allies may not be prepared to approve the deal at a finance minsters’ meeting on Wednesday, despite Athens backing new austerity measures.
Senior European Union officials said they believed Greece had met the demands of the troika of international creditors – the European Commission, International Monetary Fund, and European Central Bank – after a parliamentary vote on Sunday, including an extra €325m in budget cuts.
“The Greeks will have done the necessary prior actions by Wednesday, including the €325m, so all the elements should be on the table,” a senior official said. But other officials said scepticism remained intense in Germany and the Netherlands and a Tuesday meeting of the “euro working group” – finance ministry officials from all 17 eurozone members – would be key to decide whether lenders would approve the deal.
One eurozone official said the group had come up with a list of at least a half-dozen items that Greece must accept before the deal will be moved to finance ministers for final approval on Wednesday.
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