Europe to Demand Tougher Conditions to Support More Greek Aid
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Europe’s donor nations said Greece will need to meet tougher conditions than last year to win new aid that would avert a debt restructuring and cover almost 30 billion euros ($42 billion) of financing needs next year.
Euro-region finance ministers will meet in Brussels on May 16 to discuss more support for Greece beyond the 110 billion-euro rescue granted a year ago, Luxembourg’s Jean-Claude Juncker, who leads the group, said today in Mainz, Germany. The yield on Greece’s 10-year bond has more than doubled since the bailout to 15.6 percent, complicating its return to market.