PRODUCT PROFILE

Latest Dublin Prices

Greeks sees more funds at month's end

Wednesday, October 03 16:42:24

Greek Finance Minister Yannis Stournaras expects the troika of international lenders to deliver its report on Greece in mid-October and is optimistic Athens will get a new tranche of aid by the end of October, according to a German paper.

Athens held talks this week with inspectors from the "troika" of European Commission, European Central Bank and International Monetary Fund lenders to bridge differences over 2 billion euros of disputed austerity cuts.

But Stournaras was quoted by mass-selling German daily Bild as saying there was "no dispute with the troika".

"We are on a good path," he told Bild, for an article to be published in its Thursday edition. "I expect the troika report by mid-October. And I am very optimistic that Greece will get fresh money from the last package by the end of October."

The Greek finance minister said his country needed more time, not more money.

"That is precisely what I will explain to my finance minister colleagues at the weekend," he said, referring to a meeting of Eurogroup finance ministers on Oct. 8.

"And I will explain to them and hopefully convince them how it can work, so that we get more time and it does not cost more money," he said. "I will once again tell my EU colleagues quite clearly: We are not asking for more money."

The IMF wants Greece to cut its debt further to make up for going hugely off-track from the terms of its bailout, while Europe is resisting the option of a new debt restructuring and instead prefers to give Athens more time to get back on track, officials have told Reuters.