Greece Gets More Time To Dig Out Of Deficit

Eurozone finance ministers have decided to give Greece two more years, until 2016, to turn around their budget deficit. What eurozone leaders did not agree on is whether to release more aid to Greece — money that's needed as its outstanding loans come due.

Copyright © 2012 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news starts with a small reprieve for Greece.

Eurozone finance ministers decided yesterday to give Greece more time to turn around its budget deficit. The financially challenged government will have an additional two years, until 2016, to run a primary budget surplus, which does not include debt servicing. What eurozone leaders did not agree upon is whether and when they would release more aid to Greece - money that's needed as its outstanding loans come due. That decision is now expected on November 20th.

Copyright © 2012 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: