Euro-Zone to make Greece Decision Today

The euro zone must decide on Monday how to keep Greece on a lifeline but is divided over whether to delay aid payments to Athens in an attempt to force through unpopular reforms ranging from sacking public workers to selling state assets.

A split in Greece’s governing coalition over how to shrink the country’s public sector has cast doubt upon Athens’ ability to meet the demands of its bailout program, although Finance Minister Yannis Stournaras said on Sunday much had been done to reassure international creditors.

Eager to avoid a reawakening of the bloc’s debt crisis and mindful of elections in Germany in September, euro zone finance ministers meet at 1500 CET (1300 GMT) and will also want to hear from Portugal after last week’s political upheaval.

“This is a delicate moment and we cannot drop our guard,” said a senior euro zone official involved in preparing the talks. “Nobody wants a return of the crisis.”

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