Rehn expects positive statement on Greece at Eurogroup meeting
Euro-zone finance ministers meeting today are likely to make a
positive statement on Greece’s progress toward meeting austerity targets
needed to free the nation’s next bailout payment, European Union
Commissioner for Economic and Monetary Affairs Olli Rehn said.
“It’s
important that this can be concluded in the coming weeks,” Rehn said in
an interview in Helsinki on Oct. 6. “Negotiations have progressed well
in the past few days and last night. This is why I assume and expect the
euro-group to give a positive and supportive statement on Greece’s
progress.”
Negotiations between the government of Prime Minister
Antonis Samaras and Greece’s official lenders stalled amid Greek
reluctance to sign off on more pension and wage cuts as the nation
suffers a fifth year of recession. Greece needs to find spending cuts to
maintain access to 240 billion euros ($313 billion) in rescue funds and
is trying to reach an agreement with its official lenders to release
the next payment of 31 billion euros. The funds would primarily be used
to recapitalize Greek banks and boost liquidity in the cash-starved
economy.
“It will take some time before the report can be
finalized as it takes more work than simply an agreement over the
measures Greece commits to to balance its budget and carry out
structural reforms,” Rehn said.
Greek Finance Minister Yannis
Stournaras told reporters in Athens this weekend that his government
made progress on talks with the European Union and International
Monetary Fund on a 13.5 billion-euro package of austerity measures for
the next two years. Talks will continue this week, he said on Oct. 6.
Greece’s
statistical service said last week that the economy shrank 7.1 percent
last year, more than the 6.9 percent previously thought.
Two
bailouts and the biggest debt write-off in history have so far failed to
halt Greece’s recessionary slide, prompting Christine Lagarde, the
IMF’s managing director, to signal last month that another writedown
might need to be considered. German Chancellor Angela Merkel is due to
visit Athens tomorrow.
“The deadlines are already past, around the
time of the Greek elections and it’s important that this be concluded
in the coming weeks,” Rehn said.
[Bloomberg] |
Keine Kommentare:
Kommentar veröffentlichen