EU leaders were focussing on reforms at their final summit of the year -- like boosting economic competitiveness. But so far they've only agreed on a time frame.
European rules have always been somewhat flexible, but they are supposed to apply to all countries. By treating big countries gently and small countries harshly, the EU strains its credibility, writes DW's Barbara Wesel.
The European Commission has confirmed that it has received a list of proposed economic reforms from Athens. EU finance ministers were to review the reforms before deciding whether to extend Greece's bailout.
The EU executive has granted France two more years to bring its budget deficit below the bloc's limit of 3 percent of GDP. While avoiding a fine for now, Paris must now present new reform proposals.
Germany’s vice chancellor is "cautiously optimistic" that Greece will be able to extend its credit program. Ahead of a Tuesday afternoon teleconference, eurozone officials expressed similarly cautious optimism.
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