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New bailout plan for Greece expected to be approved

(Xinhua)

09:13, February 21, 2012

BRUSSELS, Feb. 20 (Xinhua) -- Eurozone officials had indicated that they would approve a second bailout program for Greece later on Monday after Athens had agreed to all the terms demanded by international creditors.

"I would like to assume that we can reach final and concluding negotiations today," Eurogroup head Jean-Claude Juncker said as he arrived for a meeting of eurozone finance ministers.

"The Greek side has fulfilled many preparatory efforts we had demanded. We have to conclude today, there's no more time to waste," Juncker, who is also Luxembourg's prime minister, told reporters.

His words were echoed by German Finance Minister Wolfgang Schaeuble, who said Monday's meeting was aimed to "finalize the decision on a new rescue package for Greece," and French Finance Minister Francois Baroin saying "Today we have all the elements we need to reach a deal."

Meanwhile, Christine Lagarde, managing director of the International Monetary Fund (IMF), also sent a positive message on the Greek bailout program.

"Greece has obviously made significant efforts, and now we need to continue the work and that the entirety of the elements, particularly furnished by the other parties, are also put into place," Lagarde said before the meeting that opened in the afternoon.

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