Eurogroup to meet today in bid to secure debt deal for Greece
Eurogroup finance ministers are due to meet with Greek officials in Luxembourg later today
in an effort to reach a deal that will attempt to ease the country’s debt load. The previous
meeting, which took place last month, ended without an agreement although both sides
claimed progress had been made.
Securing an agreement today would unlock the latest funds that the Greek state needs in order to repay some €7bn in July, but the focal point is to resolve the issue of debt relief. The International Monetary Fund (IMF) has insisted that debt relief is necessary for it to participate in the rescue program and they are at odds with Germany, particularly Finance Minister Wolfgang Schaeuble, who has repeatedly dismissed the prospect of debt relief.
However, Dutch Finance Minister, Jeroen Dijsselbloem, who chairs Eurogroup meetings, has spoken optimistically that a deal will be reached today. “I estimate the chance of an agreement to be very high. I think we will sort this out and that the IMF will make a positive decision”, he said yesterday in The Hague.
According to a Greek officialspeaking anonymously, Greek Prime Minister Alexis Tsipras has told his ministers that he would attempt to hold a meeting of European leaders to resolve the issue should talks break down today.