Eurozone awaits crucial reports on Greek debt

By the Associated Press | October 22, 2011 | 8:55 PM EDT

BRUSSELS (AP) — A European Union official says the bloc's executive Commission is expected to send on Thursday its reports on Greece's implementation of its bailout program and the ability of the country to repay its massive debts.

The official was speaking on condition of anonymity because the reports are confidential at the moment.

The so-called troika report and the European Commission's assessment of the sustainability of Greece's debt will form the basis for discussions of the country's future at crucial meetings of European finance ministers and leaders this weekend.

Stock markets fell Thursday on concerns that banks and private investors will be forced to take huge losses on Greek bonds and doubts about the eurozone's ability to withstand the ensuing market turmoil.