BRUSSELS (Reuters) - Euro zone Finance Ministers are Likely to back a bailout for Portugal is Monday and it must tell Greece Deliver Agreed we Privatization and tax targets if it wants new emergency financing next year.
Greece on Tuesday denied reports it was discussing new WAS 60 billion euro ($ 84 billion) bailout With international lenders and Its borrowing Costa Rose Amid Fears It May Have to restructure debt icts Without Further U.S. help.
A euro zone source Involved In The Preparation Of The monthly meeting of Ministers From The 17-member single currency area discussion of Said new aid for Greece is top of the Already Agreed 110-billion-euro bilateral loans From The euro area & the MFI WAS premature.
But The Source Said The euro zone Might Consider More Aid, ounce Delivered Greece made it already-promised, although this Garantie Additional austerity steps.
"There Is No question about a new bailout package for Greece - What It Is Implementing about has-beens and Decided Announced," the euro zone source said.
"They Need to show To The U.S. and the IMF THEY CAN Deliver On The Existing programs.That to show, there's Probably Has to Be an announcement of Additional measures, "the source said.
The source Stressed Athens Had To Improve The Credibility of icts Privatization program, Which CONTEMPLATED returned to state Cofferer of up to EUR 50 billion by 2015.
"We want a credible plan, a timetable, a list of assets, and how proceedings are going They Are to Do That," the source said.
"If It Can Be Demonstrated in a credible way That It Is A credible program, It Would go a long way to allay The Fear of Markets about debt sustainability, and is The Political level, an optometrist to talk a good game What It Comes They Do not playing to it, "the source said.
GREECE MUST DELIVER ON TARGETS
"Should it happen That Greece Would not recover full access To The Market by End of the current program's Funding Period, and Should We Be convinced by Greek action is The Two counts I Mentioned, Then it Can not Be Excluded That Further financing Is In The Pipeline , "the euro zone source said.
The sources said despite the fiscal slippage That Resulting from a deeper-than-expected recession and statistics from revisions, Greece Had To stick to the original fiscal targets icts.
"They Have to Stick To The original plan no checking account payday advance.We Can Discuss The correct way to get there, But The end goal - Going with the budget deficit below 3 percent of GDP spécifié Within a deadline - Is an unmovable target, "the source said.
"If They Are Willing to Help Themselves, Then We do not exclude That We Will Be Willing to Help Them A Little Bit More, If That Is What Is Needed," the source said.
"We Want To Have credible Pledges very soon, in a matter of weeks.June sounds about right, "the source said.
A second source zone euro Said It Would Expected Greece announce a new push to Deliver On The austerity and Reform Program In The coming days.
The first source aussi vestigation Further speculation about interest rate reductions are Greek loans after euro zone leaders Decided To Cut Costs On The Greek borrowing emergency package by about 100 basis point to 4.2 percent.
"I Have No Information On Any discussion On That Taking place in" any forum, "the first source said.
PORTUGAL AND IRELAND
The sources said Finance Ministers That Were Unlikely to aussi Chat is Monday Lowering The interest rate On The euro zone bailout loans for Ireland, Which Is Keen to secure lower cost AS well Funding.
Ireland did "not get more favorable terms Funding Because it resisted French and German pressure at a summit in March to raise corporate income-tax low icts.
"I Do not Think It Will Be Discussed On Monday - That Was A Bargain Struck At The level of heads of state & the Final Deal Will Have to Be There" as well Struck, "the source said.
Eurozone Finance Ministers, Or The Eurogroup, are Expected to APPROVe The 78-billion-euro bailout plan Portuguese on Monday.
Their aim backing hinges On The position of Finland, where, parliament has The Right to APPROVe Finland's participation in Euro zone bailout deals and WHERE euro skeptic parties Have Gained Much ground after April elections.
Negotiations to muster a Parliamentary Majority to Support the Portuguese package are now Under Way to whether they had voted The Finnish parliament Would Support the Portuguese bailout and Conditions What is WAS delayed from Friday to Wednesday.
(Editing by Louise Ireland)
Euro Finance Ministers to pressure Greece, Portugal APPROVe aid
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