Greece Given Five Days to Deliver Plan

Greece has until Monday to show how it will follow through on reform commitments after the euro area ruled out speedy access to aid funds, three officials said following a conference call of finance ministry deputies.

The euro zone’s other 18 members were adamant on Wednesday’s call that Greece needs to deliver specific plans to see any more bailout cash, the officials said. Prime Minister Alexis Tsipras needs to show that Greece can rebuild trust in its promises, they said.

Finance deputies left the door open to 1.2 billion euros ($1.3 billion) that has been allocated to aid the banking system, as the deputies concluded that Greece can’t tap those funds on a technicality. As a result, Greece will have to show it will move ahead with the changes its creditors are seeking to get the bank-aid money or other bailout funds.

Bloomberg

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