Eurozone chief Jean-Claude Juncker told reporters he’s confident Greece will get final approval for a 34.4 billion ($44.7 billion) installment from international lenders when the bloc’s finance chiefs meet in Brussels on Dec. 13. He would not comment on a 10 billion euros ($13 billion) bond buyback Greece is attempting in a bid to cut debt and unlock the loan from the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB).
Juncker said he also expects a proposed bailout for Cyprus, whose banks were driven almost into insolvency when a former Greek administration imposed losses of 74 percent on banks and investors, would also be brought up. Cypriot officials prematurely last month said a deal had already been reached.
Juncker said Spain would receive 39.5 billion euros in a bailout to recapitalize its struggling banks, and that the money should be disbursed by the following week. He said he would give up the reins overseeing the Eurozone either this month or early next year. He has held the position since 2005.
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