French Economy Minister Christine Lagarde said on Saturday that she does not expect any decision to be made by Euro zone finance ministers next week on financial help for Greece.
I'm certainly not expecting any decision being made, or any button being pressed, or any button being selected to be pressed, because it's totally premature, she told reporters at a press briefing at the Lycee Francais in New York.
Lagarde said Greece has delivered enormously with the steps it has taken to address its fiscal crisis.
Earlier, a European Union source told Reuters that Euro zone finance ministers are likely to agree on Monday on the principles and parameters of financial help to Greece, if it is required, but leave out any sums until Athens asks for them.
British newspaper The Guardian reported that aid to be made available to Greece could reach 25 billion euros. Greece's borrowing needs for the whole of 2010 total 53.2 billion ($73.2 billion) euros.
Finance ministers from the 16 countries using the euro, the Eurogroup, meet Monday in Brussels to discuss the Greek debt crisis and the country's progress in introducing austerity measures necessary to regain the confidence of markets.
Asked to comment on international differences on hedge fund regulation, Lagarde said that this is clearly a source of controversy and challenges.
The European Union wants foreign investors -- such as New York hedge funds based in London -- to be more closely supervised as well as face stricter regulatory standards set in Europe.
But the United States is worried this could make it difficult or impossible for a U.S. hedge fund to do business in the 27-country bloc or pursue wealthy local investors there.
Lagarde dismissed the idea that the rules would be discriminatory. If any non-EU fund wants to operate it can certainly do so as long as it registers and complies with the requirements, Lagarde said.
(Reporting by Kristina Cooke, editing by Anthony Boadle)