De Jager Says Greece Could Receive Extra Time, Not More Money

Dutch Finance Minister Jan Kees de Jager said Greece may get extra time to meet the conditions under its rescue program, not more money from European authorities.

The Netherlands has not changed its position on this issue, De Jager said in an interview with Bloomberg News in Nicosia.

“More time to reduce the deficit has always been the position of the Netherlands, but more money is not needed if they will take the measures timely,” De Jager said. “There is no movement whatsoever this weekend on that topic. No more openness or so. The situation is the same. Greece has to do everything the troika asks.”

De Jager said the EU could give Greece the same kinds of extensions it granted Portugal. He said European authorities are willing to relax timelines if economic conditions warrant.

“Portugal has been granted an extra year time line, but they did not ask for any more money from the European side,” De Jager said. “What happens is that you do not delay your measures but because of external factors you are reaching your deficit target somewhat later than first planned. That is not such a problem for us.”

To contact the reporters on this story: David Tweed in Nicosia at dtweed@bloomberg.net; Rainer Buergin in Nicosia at rbuergin1@bloomberg.net; Rebecca Christie in Nicosia at rchristie4@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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