20 June 2011

EUROZONE / GREECE : Still Kicking the Can Down The Road...Til 3 July; Athens Ordered To Privatize...Or Else!

NYTIMES / S. CASTLE

The Eurogroup finance ministers have postponed paying a $17bn usd tranche for Greece...until 3 July...and until Greece gets its parliamentary vote together.

Of special concern to the ministers is Greece's failure to embark on a massive e50bn privatization program.

Asked how Greece could privatize a large company every 10 days under its new program, Eurogroup leader Jean-Claude Juncker of Luxembourg (above) said: “They will have to do so”.