European governments will find a way of tiding Greece past next week's bill redemption as the pieces of an updated aid package take longer than planned to fall into place, a European official said.
While finance ministers on Nov. 12 are unlikely to sign off on 31.5 billion euros ($40 billion) of fresh loans, the result won't be an “accidental default” for Greece when 5 billion euros of bills mature on Nov. 16, the official told reporters in Brussels today on condition of anonymity.
Creditor countries will weigh whether Greek legislation passed this week goes far enough in overhauling the economy and showing that Greece, the origin of the three-year-old debt crisis, deserves to continue tapping international aid, the official said.
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