Saturday, May 28, 2011

Dutch minister: no money to Greece without reforms

Associated Press
May 28, 2011

The Dutch finance minister says his country, Germany, Finland and other EU members won’t give Greece any more bailout money, if the debt-laden country fails to adopt further austerity measures.

Jan Kees de Jager said Saturday that "it’s vital that Greece will live up fully" to conditions set by the International Monetary Fund if it’s to receive the next batch of a €110 billion ($155 billion) bailout loan deal it agreed to last year.

However, he also said Eurogroup, which represents the 16 euro nations, is researching the possibility that Greece could undergo a "soft reprofiling" — a voluntary stretching out of the repayment of its debt.


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