Eurozone leaders have given themselves three weeks to finalise an overhaul of Greece’s bailout programme, requiring parliamentary backing in creditor countries that are sceptical about reducing Athens’ interest rate burden.
But eurozone approval, which officials hope will be completed in time to release a long delayed €31.3bn aid payment to Athens on November 27, will only be granted if the Greek parliament agrees to new austerity measures in a hotly-contested vote scheduled for tonight.
“We have to back these measures, we are already committed to implementing them,” Yannis Stournaras, Greek finance minister, said yesterday. “They are tough but the alternative is a disorderly default.”
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