Greece cannot take next aid tranche for granted: Juncker

(SOFIA) - Greece cannot take for granted the next disbursement of funds from its EU-IMF bailout package unless it meets the conditions required, Eurogroup chairman Jean-Claude Juncker warned Wednesday.

"Greece, although it took a pretty huge effort, has to know that the targets we have laid out have to be reached and have to be respected," Juncker told reporters in the Black Sea city of Varna, where he met with Bulgarian Prime Minister Boyko Borisov.

"Conditionality is of paramount importance," he added.

"If not, it cannot be taken for granted that the next disbursement will take place."

The European Union and International Monetary Fund bailed out debt-ridden Greece in May 2010 with a package worth 110 billion euros ($160 billion).

Athens is due to get its next eight-billion-euro disbursement from the aid package later this month after having demonstrated it has met the fiscal targets it has been set.

However, the EU and IMF left a critical audit of Greek finances unfinished on Friday saying more budget work was needed, and the government admitted its deficit target is in trouble due to the deeper than anticipated recession.

Eurozone leaders also approved in July a second 109-billion-euro bailout to save Greece from bankruptcy, with the private sector providing another 50 billion euros in relief by debt rollovers.