Greek extension depends on troika findings: Eurogroup chief

ATHENS (Reuters) - A decision on whether to grant Greece additional time to meet budget targets will be based on a review by lenders on the country's progress in meeting the terms of its latest bailout, Eurogroup chief Jean-Claude Juncker said on Wednesday.

"I have to underline this will depend on the findings of the troika mission and we have to discuss the length of the period and other dimensions," Juncker told a news conference alongside Greek Prime Minister Antonis Samaras.

Warning it was the country's "last chance" to avoid bankruptcy, Juncker urged Greece to push through austerity cuts and said a credible strategy to close the country's fiscal gap was a pre-requisite for disbursing the next aid tranche.

"The ball is in the Greek court - in fact this is the last chance and Greek citizens have to know this," he said.

Samaras is hosting Juncker, the most influential European policymaker to visit Athens since elections in June, ahead of meetings with German Chancellor Angela Merkel and French President Francois Hollande later this week.

(Reporting by Renee Maltezou)

Source: http://news.yahoo.com/greek-extension-depends-troika-findings-eurogroup-chief-170031455.html

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