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Greek FinMin expects long period of uncertainty to end
Last Updated(Beijing Time):2012-02-21 09:58

Eurozone officials were expected to approve a second bailout program for Greece after the country had met all the terms demanded by international creditors, Greek Finance Minister Evangelos Venizelos said Monday.

"It is obvious that we anticipate to see a long period of uncertainty coming to a close today, a period that benefited neither the Greek economy, nor the Euro Area overall," Venizelos, also Greece's deputy prime minister, said in a statement emailed to reporters.

Speaking a few hours before eurozone finance ministers were scheduled to meet in Brussels to discuss the bailout plan, Venizelos said, "Greece comes into today's Eurogroup meeting having fulfilled all the requirements for the approval of the new program."

Greek Prime Minister Lucas Papademos announced Sunday that the Greek authorities had identified areas for additional spending cut of 325 million euros (about 429 million U.S. dollars) in 2012.

Greece has technically met all the three demands raised by international creditors, as leaders of major political parties in the Greek coalition government had sent letters of commitments to the European Commission and the Greek parliament approved the bailout plan on Feb. 12.

"The Greek people is sending Europe the message that they have, and they will, make the necessary sacrifices in order for our country to regain its place within the European family, thus protecting the achievements of many decades in the past," said the statement.

Venizelos also urged his European counterparts to "send clear messages, with conclusive and implementable decisions and with fixed rules that do not change every now and then."

However, uncertainty remains over the bailout program as the negotiations are still carrying on, he said.

"Technical problems are being discussed, individual parameters are being examined and preferences or priorities of institutional partners or member states are affecting the mood of the talks," said the Greek finance minister.

"But I believe that all those things will be finally decided based on the decision of Oct. 26, using as high criterion the principles that underpin the European project," he added.

The 130 billion-euro bailout package, offered by the "troika," namely, the International Monetary Fund, the European Union and the European Central Bank, is crucial for Greece to avoid default or a potential exit from the eurozone on March 20 when 14.5 billion euros' worth of bonds come due. (1 euro = 1.32 U.S. dollars)

Source:Xinhua 
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