Greece is facing the prospect of more austerity to cover the €30 billion cost of being given two more years to meet the conditions of its international bailout.
Dutch finance minister Jan Kees de Jager said that “Greece must bear the costs of any delay”, as think tank Open Europe warned that a two-year extension would cost at least €28.5 billion to ensure the struggling eurozone nation can refinance its debts and pay its bills. His comments came as Ireland appeared to clash with its eurozone partners, despite being hailed as a bail-out “success story".
The release of a key €31.5 billion tranche of Greece’s aid package is tied up with the negotiations on the bailout timetable. Eurozone finance ministers are supposed to discuss its release. Athens has warned it will run out of money next month unless it gets the funds.
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