Eurozone finance ministers to meet for Greece bailout talksNovember 26, 2012 - 11:13 AMT PanARMENIAN.Net - Eurozone finance ministers are set to meet in Brussels later on Monday, November 26 to discuss the next installment of bailout money for debt-laden Greece, BBC News reported. Greece is due about 31bn euros ($40bn; £25bn) in bailout loans. However, eurozone members fundamentally disagree on how to deal with Greece's vast debt mountain. It will be the third such meeting in two weeks. Greece was supposed to get the money back in May, and is being kept afloat on emergency loans The meeting is aimed at reaching agreement among the 17 eurozone members about creating a plan to return Greece to financial health. The ministers also need to reach agreement with the International Monetary Fund over how best to keep Greece funded and reduce its debt, which is expected to reach 190% of its gross domestic product next year. They want to get that rate down to 120% in the next eight-to-10 years. Until they can see eye-to-eye over how to do that, they are reluctant to release any more loans to the country for fear the support will become permanent. On Sunday, French Finance Minister Pierre Moscovici said it would be "irresponsible" to fail to reach an agreement this time around "given the efforts everyone has made". He said the eurozone was "very close to a solution." Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |