| Author (Person) | Spiegel, Peter |
|---|---|
| Series Title | Financial Times |
| Series Details | 4.10.11 |
| Publication Date | 04/10/2011 |
| Content Type | News |
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At a Eurogroup meeting in Luxembourg on the 3 October 2011 Eurozone finance ministers gave a clear indication they were preparing to paper over Greece’s failure to hit international lenders’ mandated budget targets for 2011, saying they would now evaluate Athens’ performance based on goals that combine both 2011 and 2012. By combining 2011 with 2012 targets instead, the EU appeared to be preparing to fudge the missed benchmarks for 2011, paving the way for the closely watched aid payment, which Athens says it needs in a matter of days or it will run out of cash. However, the payment would be delayed beyond the anticipated 13 October 2011. Senior eurozone officials warned they were likely to extract new concessions for 2013 and 2014 in the forthcoming days before signing off on the new money. |
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| Countries / Regions | Europe, Greece |
