February 13, 2012 / 7:31 PM / 6 years ago

ECB'S Nowotny: need progress for Greek payout: report

FRANKFURT (Reuters) - ECB Governing Council member Ewald Nowotny said despite a move by Greek parliamentarians to endorse austerity measures, further steps were needed before funds could be released for Greece, according to Austrian Web site Der Boersianer.

“It was surely an important step, but one has to be conscious of the fact that not all steps have been fulfilled. Until we can really pay out the next tranche for Greece, some further steps are needed,” Nowotny told der Boersianer.

Der Boersianer did not elaborate on what these steps are.

Greece needs the international funds before March 20 to meet debt repayments of 14.5 billion euros.

Lawmakers backed drastic cuts in wages, pensions and jobs on Sunday as the price of a 130 billion euro ($170 billion) bailout by the European Union and International Monetary Fund to avert a messy default that would send shockwaves through the euro zone.

Europe gave Greece until Wednesday to convince skeptical international creditors that it would stick to the punishing terms of a multi-billion-euro rescue package.

Reporting By Edward Taylor and Mike Shields

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below