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No decision made on giving Greece extra time - Asmussen

Source : REUTERS
Last Updated: Wed, Oct 24, 2012 08:50 hrs
ECB Executive Board member Asmussen

BERLIN (Reuters) - No decision has been made to give Greece an additional two years to reach its fiscal targets but the troika of international lenders is making progress, European Central Bank board member Joerg Asmussen said on Wednesday.

"So far there is no final agreement by the troika with the Greek government. We are making progress in Athens, but we are not there," Asmussen told German public broadcaster ARD. "If one were to stretch the fiscal targets by two years, it would mean the other euro zone states having to provide more financial means."

A draft of agreed measures and targets between Greece and its lenders obtained by Reuters showed that the austerity cuts would be spread over four years as sought by Athens rather than the two years originally envisaged under Greece's bailout.

(Reporting by Alexandra Hudson and Annika Breidthardt)




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