Published November 12, 2012
BERLIN – Greece has made considerable progress in approving an austerity budget but there are many financing questions yet to be answered, a German finance ministry spokeswoman said on Monday.
"Everyone is working under a lot of pressure to resolve questions which are still open," Marianne Kothe told a regular news conference, adding that euro zone finance ministers were unlikely to reach a decision on Monday on further funding.
"I think it's rather unrealistic to expect a final decision today as in Germany the Bundestag (lower house of parliament) has to agree to it in advance," she said.
Kothe added that she did not believe the final troika report was complete yet.
European officials said on Monday the euro zone would not release a new loan tranche to Greece on Monday despite the country's tough budget as there was no agreement yet on how to make its debt sustainable, but Athens was set to get two more years to cut debt.
(Reporting by Stephen Brown; Writing by Michelle Martin, Editing by Gareth Jones)