Economic

Europe delays decision on Greece, presses Athens to act

“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.)

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