Eurogroup chair Jeroen Dijsselbloem on Tuesday told MEPs that all types of measures envisioning Greek debt relief will be discussed at next week's Dec. 5 meeting of euro-area finance ministers.
By N. Bellos
Eurogroup chair Jeroen Dijsselbloem on Tuesday told MEPs that all types of measures envisioning Greek debt relief will be discussed at next week's Dec. 5 meeting of euro-area finance ministers.
He also expressed a hope that talks between Athens and creditors for the second review of the Greek program (third bailout) will have concluded by the specific date.
Meanwhile, a top Eurozone official on Tuesday added that Greece has racked up an impressive number of reforms since the last memorandum was signed in the summer of 2015.
The same official cited the May 2016 agreement at the Eurogroup, whereby short-term debt relief measures were decided in order to ensure that the country's external debt is sustainable -- a standing IMF demand.
"... if needed, other medium-term and long-term measures will be taken," the official said, adding that an initiative to deal with the debt issue, combined with the Greek side's commitment to the program, will facilitate the Fund's renewed participation in the latter as a lender.
"I hope that on Dec. 5 we will have an agreement over the review; significant progress has been made in this direction ... this will allow for discussion on short-term, medium-term and long-term measures for the debt," was the quote.
In his appearance before a relevant European Parliament committee, Dijsselbloem, who is also the finance minister of the Netherlands, said both sides -- the Greek government and creditors -- must commit to fulfilling obligations.
In response to a question by Greek MEP and Europarliament vice-president Dimitris Papadimoulis, Dijsselbloem said the Eurogroup's ministers will hear out creditors on Dec 5, while he termed the resolution of the labor sector issues as particularly significant.
Moreover, he appeared to back the IMF's position that 3.5-percent primary Greek budget surplus targets (as a percentage of GDP) for several years after 2018 are unrealistic, saying that a "realistic path" needs to be found between Stability Pact-mandated targets for fiscal adjustment -- the stance vigorously backed by Berlin -- and the Fund's argument.
He also said he agreed with a statement by ECB President Mario Draghi, who appeared before the same European Parliament committee a day earlier, namely, that whatever momentum built up in the Greek program should not be squandered. He pointed out that some sides want an accelerated pace, others have stubbornly blocked developments, while his "style", as he said, is a step-by-step approach.