Greece's Debt Inspectors Say Progress Made

By The Associated Press

BRUSSELS -- Greece's international creditors say the country has made progress in meeting the terms of its financial bailout but are urging more action if certain economic targets are to be met.

In a report Monday, inspectors from the so-called troika -- the European Commission, European Central Bank and International Monetary Fund -- say the Greek authorities have "committed to take corrective action" to ensure budget targets are met for 2013-14. In particular, they noted that concrete steps are needed to gain control over health sector overspending.

They also say Greece's economic outlook remains "broadly in line" with projections and that growth should emerge next year.

The finance ministers of the 17 European Union countries that use the euro are meeting later in Brussels to assess progress in Greece.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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