Wednesday, November 23, 2011

Greek FinMin: political deal to free aid is imminent

Greece's finance minister said he was optimistic that the country's political parties would do everything necessary as early as today to ensure the release of a sixth aid tranche needed to avert a disastrous debt default.

The comments by Evangelos Venizelos signalled that his socialist party's rival, the conservative New Democracy, might be ready to comply with an EU demand to provide a written pledge to back austerity measures.

International lenders have said such a pledge is needed before they will unblock the 8 billion euro tranche.

Sources in New Democracy told Reuters there had been no change in their stance on the written pledge.