Euro Crisis

Greece Approves Spending and Debt Controls To Meet Lender Demands

We've been down this road before, so don't hold your breath


Greece approved laws on Monday to enforce budget targets and ensure privatization proceeds are used to pay off debt, seeking to appease foreign lenders before a critical meeting of euro zone finance ministers.

Athens said the decrees - in addition to an austerity package passed this month - completed its obligations to lenders before Tuesday's Eurogroup meeting, which it hopes will unlock more aid to stave off bankruptcy.

"We have delivered, fulfilling the final pledges we made," Greek government spokesman Simos Kedikoglou told Reuters.