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Euro Finance Chiefs Poised to Grant Greece Extension

Greek politicians still squabbling over further austerity measures.

By Jeff Black and Stephanie Bodoni, Bloomberg | Updated on October 31, 2012

Euro-area finance chiefs may cut Greece some slack in meeting its bailout targets even as they split on whether the country needs another debt writedown and Greek politicians squabble over further austerity measures.

With Greece facing an unprecedented sixth year of recession, fellow euro-area governments are preparing to allow Prime Minister Antonis Samaras’s government “a somewhat flatter adjustment path” in achieving its deficit-reduction goal, said Thomas Wieser, head of the group that prepares meetings of euro-area finance ministers.

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