EU Official: Report on Greece's reforms due Monday as Nov 16 deadline looms for new aid batch

BRUSSELS – A European Union official says he expects a crucial report on Greece’s budget reforms and debt sustainability to be delivered by Monday, when finance ministers from the 17 euro countries meet in Brussels.

Greek officials say the country will run out of money Nov. 16, and a new bailout disbursement is needed so the country won’t default. That cannot be approved without a report from the troika of international lenders — the International Monetary Fund, the European Central Bank, and the European Commission, the EU’s executive arm.

The parliaments of several eurozone countries will also have to approve the disbursement, meaning a second finance ministers’ meeting will be needed, the official said. “There will be no default,” the official said. He spoke on condition of anonymity because of EU rules.