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EU`s Rehn warns Greece over June payment: report
Date 29/05/2011 23:23  Author webmaster  Hits 1123  Language Global
29 MAY 2011

AFP

BERLIN — The EU will follow the IMF in blocking the June transfer of more Greek aid unless Athens does more to fix its public finances, economic affairs commissioner Olli Rehn was quoted as saying Sunday.

"We Europeans are setting the same conditions as the International Monetary Fund," Germany's Spiegel weekly quoted Rehn as saying in comments published in German. "The situation is very serious."

He said the European Union would decide after examining the latest quarterly audit of Greek public finances by experts from the European Central Bank, the EU and IMF -- which Spiegel said would include some "alarming" findings.

The audit will say that Athens is missing all budget promises made last year in return for an EU-IMF 110-billion-euro ($156-billion) rescue, Spiegel reported, without saying where it got the information.

The IMF warned Greece on Thursday to firm up its broad financing plans and policy actions to be able to continue receiving bailout funds, calling for "assurances" on how Athens will fund its future.

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