ATHENS, Sept 27 A team of inspectors from
Greece's lenders will return to Athens this week and the country
will receive the 8-billion-euro ($11 billion) aid tranche it
needs to avoid bankruptcy next month, Finance Minister Evangelos
Venizelos said on Tuesday.
Venizelos said Prime Minister George Papandreou would send a
letter outlining a new austerity drive to the team from the
so-called "troika" of the European Union, International Monetary
Fund and European Central Bank.
The troika has demanded written assurances from Athens that
it will take steps to catch up with fiscal consolidation and
meet targets outlined under its 110-billion-euro bailout deal.
Venizelos said euro zone finance ministers would then
discuss and authorise the aid tranche.
"The disbursement will take place, and it will take place on
time," Venizelos said.
Venizelos also said Greece must endure austerity to pass
from a vicious to a virtuous economic cycle.
"We should make a super effort to achieve our fiscal
targets, to drastically cut our primary deficit in 2011, to take
the additional measures for the 2012 budget, to achieve primary
surpluses in 2012 for the first time after many years, so that
we start entering a virtuous circle."
(Reporting by Angeliki Koutantou; editing by Michael Winfrey
and Peter Millership)