Greece expected to get two more years to achieve fiscal target (2)

As conditions for the release of the next tranche of 31.5 billion euros (about 40 billion U.S. dollars) of emergency loans from the eurozone, the Greek parliament had passed an austerity budget for 2013 on Sunday and a structural reform package last Thursday.

However, Juncker said an "extraordinary meeting" was still needed on Nov. 20 to further discuss the financing needs due to the extension of the fiscal target and the possibility of making Greece's public debt sustainable by 2020 or two years later.

The Eurogroup chief also hailed the "resolve" of the Greek government to carry out austerity measures and structural reforms.

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