Photo: Flickr | DonkeyHotey
Reuters reports that Eurozone finance ministers will probably not hold a planned meeting in Brussels tomorrow as the paperwork for Greece’s austerity plan is still incomplete.Instead, they’re expected to hold a conference call.
Evidently, it’s just a problem with the “paperwork.”
However, we’re not sure if this is just an attempt to cover up larger problems with the plan, which has been difficult to write and approve.
What’s more, one would think that the austerity measures passed thus far would have been sufficient to earn at least a meeting between finance ministers.
UPDATE: In just the last few minutes after that Reuters headline came out, Dow Jones reported that Greek PM Lucas Papademos said there will indeed be a Eurogroup meeting tomorrow in Brussels.
Olli Rehn, it said, also told that publication about two hours ago that there was going to be a meeting.
The news media appears conflicted on what’s going on. We’ll update when we hear more.
UPDATE II: It now appears that the Eurogroup meeting scheduled for tomorrow is indeed off, and not because of paperwork.
AP reports that Eurogroup President Jean-Claude Juncker said Greece did not fulfil the conditions set forward by the EU, so there will be no meeting. According to Bloomberg, Greece has not provided sufficient political assurances about debt reduction or getting spending in line.
That’s hugely problematic for a country crippled by a recession and on the verge of default.