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Juncker: Greece has March 16 Deadline to Show Progress

By Anonymous

Based on reports from Dow Jones: Juncker: Euro Zone Ready To Support Greece If Needed and the BBC: Greece 'may cut spending further', here are some comments from Jean-Claude Juncker, Luxembourg's prime minister and chairman of the 16 euro-zone finance ministers:

Greece has until March 16th to show progress on their budget. If Greece is not on track, the EU will demand extra cost cutting measures. Dow Jones quotes Juncker: "If it appears in mid-March that they are not on track we will ask for additional measures."

Juncker said the 16 euro-zone nations stand ready to help Greece.

Mr Juncker said there would be no details released of any possible bail-out. According to the BBC, Juncker said it would be "unwise" to discuss the details now.

Juncker also said that Greece will not be forced out of the euro.

It looks like this will be an issue next month (or tomorrow - you never know).

Full post as published by Calculated Risk on February 15, 2010 (boomark / email).

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