Greece Expects Euro-Region Help for August Funding Needs

Greek Finance Minister Yannis Stournaras said euro-area governments vowed to prevent Greece from defaulting next month while reviewing the nation’s eligibility for more aid amid a worsening recession.

“Significant” delays in Greece’s program to overhaul its economy and a deeper-than-forecast contraction approaching 7 percent this year require special steps to ensure Greece can redeem bonds held by the European Central Bank, Stournaras said. Greece must repay at least 2.6 billion euros ($3.2 billion) of debt on Aug. 20, according to Bloomberg data.