Eurogroup head Jeroen Dijsselbloem praised an eleventh hour reform proposal from Greece as a "welcome step" that leaders from the 19-nation eurozone would discuss but not approve at a meeting later Monday.
Athens' stocks closed up 9 percent and Europe's main markets all surged on hope of an end to the five-month standoff between the leftist Greek government and its EU-IMF creditors before a deadline on June 30.
"It is a welcome step and a step in a positive direction, so I think it is also an opportunity to get that deal later this week and that is what we will work for," Dijsselbloem said.
He said however that the ministers would probably have to meet again later this week after further talks between Athens and its creditors, before another summit of all 28 EU leaders on Thursday.
The optimism was shared by European Commission chief Jean-Claude Juncker, a key power-broker in the talks who greeted Greek Prime Minister Alexis Tsipras with hugs and kisses earlier, who said "my aim is a deal by the end of the week."
Tsipras was also meeting hard-line International Monetary Fund chief Christine Lagarde and European Central Bank head Mario Draghi before the leaders' summit.
Source: AFP- globaltimes.cn
22/6/15
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EU official calls Greek proposal "good basis for progress"
Η Ελλάδα σώθηκε (Σταθάκης)
Greece's economy minister has spelled out the terms of new proposals to end deadlock on its debt crisis, amid hopes a deal can now be struck this week...
Δεν θέλουμε χαοτικές εξελίξεις για την Ελλάδα (Donald Tusk)
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Europe cautiously optimistic of Greek debt deal this week...
ReplyDeleteGreece has finally offered economic reforms that creditors consider potentially acceptable, giving Prime Minister Alexis Tsipras a couple days to turn a spirit of goodwill into a deal that might keep the country from a painful exit from the euro currency.
Even though a firm deal to get Greece more loans remained elusive Monday, leaders from the 19 euro nations and the International Monetary Fund said Tsipras' new reforms plan offered the basis to break a four-month deadlock in talks.
Uncertainty over Greece has sapped confidence in global markets, particularly in Europe, and threatened the financial future of Greeks.
"I want to end this political gambling," said European Union President Donald Tusk at an emergency summit on the issue.
Financial officials gave a tentative endorsement to Greece's proposals for spending cuts and reforms they would make in exchange for billions of euros in fresh loans. Greece needs the money urgently as it faces a June 30 debt repayment it cannot afford.
Tusk said Greece's plans, which include retirement reform and sales tax changes, "were the first real proposals in many weeks."
"It's an opportunity to get that deal this week," said Jeroen Dijsselbloem, the Dutchman who chaired an emergency meeting of eurozone finance ministers ahead of the summit.
Leaders are now looking at a two-day European Union summit starting Thursday in Brussels to make the final thrust in the talks and reach a deal that will keep Greece solvent.............http://www.dailystar.com.lb/News/World/2015/Jun-22/303324-europe-cautiously-optimistic-of-greek-debt-deal-this-week.ashx
22/6/15
Eurozone leaders echo hopes for Greek deal...
ReplyDeleteEurozone leaders have echoed hopes that a deal can be struck within days to stop Greece defaulting on its debt.
German Chancellor Angela Merkel said new proposals offered by Greece constituted "some progress". But she said more work was needed and "time is short"....BBC