Eurozone leaders to make crunch decision

Note: This section contains information in English only.
Source: Dukascopy Bank SA
"There are good chances that we will come to a conclusive mutual solution, but I can't be entirely sure"
- Luxembourg Prime Minister Jean-Claude Juncker

Eurozone finance ministers are expected to approve the next 33 billion euros of bailout fund needed by Greece to avoid bankruptcy. However, the money is unlikely to be disbursed before December and the deal on two-year delay to Greece's austerity programme may need further talks as well. Greece's reforms and fiscal consolidation were thrown off the course by two subsequent parliamentary elections and a deep depression, even despite the fact that in February the country got a second financing from international lenders.

"There are good chances that we will come to a conclusive mutual solution, but I can't be entirely sure," Luxembourg Prime Minister Jean-Claude Juncker said Tuesday.

"We must still reach an understanding on several details and I would expect that the chances are good that we will come to a final and joint solution this evening. But I'm not entirely certain... about the matter," he said.

The Stoxx Europe 600 Index rose 0.34 per cent to 269.49. Germany's DAX Index added 0.69 per cent to 7,172.99, while France's CAC 40 Index soared 0.65 per cent to stand at 3,462.06.

© Dukascopy Bank SA

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