BUSINESS

German official: eurogroup likely to discuss Greek bailout package next week

03/09/2012 06:41 EST | Updated 05/09/2012 05:12 EDT
BERLIN - A German official says eurozone ministers will likely discuss next week approval of the full second €130 billion ($171 billion) package of rescue loans for Greece.

Finance Ministry spokesman Martin Kotthaus said a telephone conference of finance ministers from the 17-nation currency bloc on Friday could — if Greece is determined to have fulfilled the conditions set for it — release a €30 billion payment for private bondholders out of the package.

It also could make a decision on a €5.5 billion Greek interest payment to bondholders.

But Kotthaus said of the full rescue package: "I assume that the second Greece package will be discussed in the eurogroup next week."

Greece said Friday it had persuaded the vast majority of its private creditors to slash the value of their Greek bond holdings.