Bloomberg News

EU Sees Euro Area Deciding on Greek Package as Whole on Feb. 15

February 13, 2012

Feb. 13 (Bloomberg) -- The European Commission anticipates that euro-area finance ministers will decide on the second Greek bailout as a whole, including investor losses, and not approve just part of the package at a Feb. 15 meeting in Brussels, a European Union official said.

Following the Greek parliament’s approval of the austerity measures needed to secure the international bailout of 130 billion euros, the euro-area ministers are still awaiting 325 million euros in additional budget cuts and written commitments from Greece’s political leaders that they will support the program. The commission expects all the elements, including private-sector involvement, to be handled as one package, the EU official said on condition of anonymity because the discussions are private.

To contact the reporter on this story: Jim Brunsden in Brussels at

To contact the editor responsible for this story: Jones Hayden at

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