“Euro zone finance ministers kept up intense pressure on Greece on Monday, saying it had to approve tougher austerity measures before a final decision is made on a further 12 billion euros ($17 billion) in loans.
Meeting into the early hours of Monday, ministers indicated that the next tranche of EU/IMF aid would be paid by mid-July, allowing Athens to avoid default, but said it was up to Greece to show concrete progress on plans to cut spending, raise taxes and generate other revenue streams first.”
(Source: Europe delays decision on Greece, presses Athens to act | Top News | Reuters.)
