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Euro finance ministers to discuss Greece's future

  • Associated Press
  • November 12, 2012 - 4:00 AM

BRUSSELS - Finance ministers from the 17 euro countries are expected to debate Greece's economic reforms Monday evening at a meeting in Brussels.

Greece, which hopes for a new (EURO)31.5 billion ($40 billion) bailout loan, faces a bond repayment on Friday it cannot afford.

The finance ministers were due to receive a report on Greece by the troika of international lenders — the International Monetary Fund, the European Central Bank, and the European Commission. But Germany's finance minister has said the report would likely not be delivered in time for Monday's meeting.

In any event, no decision on giving Greece the new loans will be made Monday because some eurozone parliaments must approve the deal. Greek lawmakers approved the country's 2013 austerity budget early Monday, essential to unblocking the new payment.

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