EZ FinMin meeting today

Greece said over the weekend that as expected, it would miss it’s budget deficit target for this year. The next tranche of EU/IMF aid, which is necessary in order for Greece to avoid default, is due to be signed off on by the EZ next week. This tranche was supposed to be dependent on Greece meeting it’s reform targets but is still likely to be agreed on, as the EFSF isn’t yet in place. Today’s meeting is expected to increase the pressure on Greece to act quicker in it’s reform process.