Eurogroup expected to approve aid payments for Greece and Cyprus; Slovenia woes return

FXstreet.com (Barcelona) - Eurozone finance ministers gather in Brussels today to discuss whether Greece and Cyprus should be granted bailout payments. Another item on the meeting agenda is the progress towards setting up the EU banking union.

Eurogroup officials will decide whether to release the first installment of the aid for Cyprus, amounting to 3 billion euros. They will also decide whether Greece should receive the next tranche of its rescue package, worth 7.5 billion euros.

Meanwhile, the week opens with renewed concerns about the situation in Slovenia, despite the fact that the country's government announced a reform plan last Thursday, aimed at shoring up finances and avoiding a bailout.

Still, German Finance Minister Wolfgang Schäuble said in an interview for a German radio today that in his opinion Slovenia can manage without international aid, provided that it carries out the necessary reforms.