Greece Nudged to Push Economic Overhaul, Wins Schaeuble Praise
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European governments prodded Greece to scale back the state-owned defense industry and plug holes in its 2014 budget, while indicating that aid will keep flowing to the recession-wracked country.
Finance ministers said 1 billion euros ($1.37 billion) of delayed payments may be unlocked before the end of December. Greek Finance Minister Yannis Stournaras predicted this will be the case after he struck an agreement yesterday with European Union Competition Commissioner Joaquin Almunia on the restructuring of Hellenic Defense Systems SA.