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Greece Gets More Time To Dig Out Of Deficit

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Greece Gets More Time To Dig Out Of Deficit

Business

Greece Gets More Time To Dig Out Of Deficit

Greece Gets More Time To Dig Out Of Deficit

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  • <iframe src="https://www.npr.org/player/embed/165012160/165012151" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

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.

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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.

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