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Thursday, December 13, 2012

Euro ministers back next Greece bailout payment





The decision by the finance ministers of the 17 EU countries that use the euro caps an often-tortuous period, when Greece tried to convince its creditors that it was holding up its end of the bailout bargain.

The meeting of eurozone finance ministers came just hours after finance ministers from the 27 countries in the European Union, which includes non-euro countries such as Britain and Poland, agreed to create a single supervisor for their banks, a key component of what many hope will eventually become a fully-fledged banking union.

Later Thursday, EU heads of state and government will gather in Brussels for a summit devoted to building a closer financial and political union, meant to avoid future financial crises.


READ THE ORIGINAL POST AT www.sfgate.com