Greece deal must be reached by 15 June, says European commissioner

By:

Mark Smulian

23 May 17

Greece and the European Commission must conclude a new agreement on a bailout next month after talks failed this week, economic and financial affairs commissioner Pierre Moscovici‏ has said.

In a tweet following the inconclusive meeting Moscovici said: “Greece is keeping its side of the bargain.

"We have a good basis for an agreement - we must conclude on 15 June.”

Talks foundered on the International Monetary Fund’s insistence that it wanted to see more detail on planned debt relief action.

The eurozone and IMF did though agree that Greece would have to keep a primary surplus of 3.5% of gross domestic product for five years after 2018.

Some eurozone countries hope to involve the IMF in the next Greek bailout so that they alone do not bear this.

Jeroen Dijsselbloem, who represents eurozone finance ministers, said an agreement was very close with the IMF on additional debt relief for Greece.

Greek civil servants last week joined workers across the country in a general strike to protest against the latest austerity measures agreed under Greece’s bailout deal.