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Eurozone Finance Ministers To Meet On Thursday To Discuss Greek Bailout Deal

Eurozone finance ministers to meet on Thursday to discuss Greek bailout deal

Eurogroup President Jean-Claude Juncker has convened a meeting of the Eurozone finance ministers on Thursday to discuss progress with Greece's second bailout package.

In a statement on Monday, Juncker said ministers are expected to take stock of the ongoing PSI bond exchange operation in Greece and of the implementation of the prior actions by the Greek authorities.

The meeting is scheduled to be held at 2 pm at the LEX Building in Brussels.

Under a debt swap deal agreed last week, banks and other private creditors will have to write down 53.3 percent of the nominal value of their Greek bond holdings, slashing the country's debt burden by EUR107 billion.

Greek Parliament endorsed the debt swap deal last Thursday, clearing one of the main hurdles for securing a rescue package worth 130 billion euros, approved by its international creditors.

The ministers will verify the economic reform and austerity measures approved by the Greek Government.

by RTT Staff Writer

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