Commission warns no quick deal likely as Tsipras and Juncker meet to discuss Greek debt

3 Jun 15

Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker are set to meet in Brussels tonight to discuss the terms of the international bailout of Greece, but a final deal is not expected to be reached, a commission spokesman said.

“Intensive work continues at all levels toward an agreement to successfully conclude the current adjustment programme,” said European Commission spokesman Margaritis Schinas.

“This is a first discussion, not a concluding one ... This is the moment for the negotiations to concentrate on the essential. The essential is the remaining few issues where there are still differences.”

Jeroen Dijsselbloem, head of the eurozone’s finance ministers was invited to tonight’s meeting, but it is being reported that Tsipras is not happy.

Representatives of the European Central Bank and the International Monetary Fund will also be turning up at the crunch meeting to present their economic reform plans for cash-strapped Greece. These will include a series of austerity measures, which are needed to help the country reach a deal that would finally unlock the desperately needed €7.2bn loan. Athens remains in a four-month standoff with international creditors over the release of this bailout fund.

A total of €1.6bn must be repaid by Greece to the IMF this month, with the first instalment of €300m due this Friday.

  • Judith Ugwumadu
    Judith Ugwumadu

    Judith writes about public finance, public services and economics across Public Finance International and Public Finance. She previously undertook reporting stints at Financial Adviser, Global Security Finance and The Sunday Express.

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