The head of the Eurogroup, Jean-Claude Juncker said after a meeting with Greek Prime Minister Antonis Samaras,that the exit of Greece from the euro zone would be a threat to the whole monetary union. At the same time Juncker asked Greeks continued efforts to reduce debt. Greece agreed to reduce its budget deficit from 9.3% of GDP last year to 3% by the end of 2014. Authorities in Athens are currently seeking an extension of two years of the term. Another report of the troika – the European Commission, the European Central Bank and the International Monetary Fund – on Greek austerity measures and reforms to be published in September.
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