Ministers put off finalising Greek deal

Eurozone finance ministers put off taking the final step to agree the second Greek bailout, but the next week will be vital as 90% of private investors need to agree to the bond-swap that will cut Greek debt by €109bn.

But as ministers moved closer to what they hope will solving the Greek problem that has bedeviled the eurozone for the past three years, triple-A country the Netherlands unexpectedly announced its deficit will increase to 4.5% this year.

Finance ministers signed the agreement with the EU’s bailout fund, the European Financial Stability Facility, to allow them raise funds for Greece, but they will wait until the debt-swap offer closes next Wednesday before signing off on the total deal worth €130bn.