Brussels, 07/05/2015 (Agence Europe) - Greece and its lenders will have a meeting of minds in good time, explained Greek finance minister Yanis Varoufakis at an annual event organised by European employers on Thursday 7 May.
Quizzed about the state of play in Greece's talks with the 'institutions' (European Commission, ECB and IMF) on a list of reforms to be introduced in Greece, Varoufakis said: “Europe is particularly adept at snatching a good outcome after trying all other alternatives” (...) “We're getting much much closer, no doubt we shall converge in good time.” He said Greece was planning to pay back a loan instalment to the IMF next week of just over €750 million.
Economic and Monetary Affairs Commissioner Pierre Moscovici said the parties had learned to talk to each other and the question now was: “Are we close enough?” He answered the question by saying they were working on it. The talks at the Brussels Group will continue over the weekend, and Moscovici hoped that there would be good progress to reveal to Eurogroup on Monday 11 May.
During a visit to Brussels, French finance minister Michel Sapin said the final outcome would not be reached on 11 May, but in the following days. Rejecting Greek reports of dissent among Greece's lenders, he said that the rules, and the flexibility under them, had to be respected, but adjustments to the previous government's reform programme were justified by the coming to power in Greece of a new political majority as long as the overall budget balance remains the same. While he didn't oppose the raising of the minimum wage in Greece, he did wonder at what speed the increase should be introduced.
If Eurogroup on Monday doesn't send a positive signal, Bloomberg says the ECB may decide to tighten the criteria for emergency lending to Greek banks. (Elodie Lamer and Mathieu Bion)