Thursday 29 June 2017

Finance Minister: It's not clear Greece has moved far enough to secure deal

Greek Finance Minister Yanis Varoufakis, left, speaks with Irish Finance Minister Michael Noonan at the start of the annual meeting of the European Stability Mechanism Board in Luxembourg (AP Photo/Virginia Mayo)
Greek Finance Minister Yanis Varoufakis, left, speaks with Irish Finance Minister Michael Noonan at the start of the annual meeting of the European Stability Mechanism Board in Luxembourg (AP Photo/Virginia Mayo)
Colm Kelpie

Colm Kelpie

Finance Minister Michael Noonan has said it’s not clear that Greece has moved far enough to secure a deal with its creditors.

Ahead of a crucial meeting of Eurozone finance ministers in Brussels, Mr Noonan said he had low expectations of a deal today.

“We’re still not quite clear what the actual proposals are  and I understand the Greek authorities have made some movement and that’s welcomed but it’s not clear that the movement is sufficient and in the meantime the European  Central Bank continues to play a central role with rising  concerns about the level of ELA that’s been provided,” the minister said.

Eurozone finance ministers were meeting in Brussels ahead of a gathering of European leaders in a bid to break the deadlock between Athens and its creditors, and avert a potentially damaging default.

Mr Noonan said it was the start of a the process and he expected another Eurogroup meeting on Thursday ahead of another leaders’ summit.

“There was such confusion during the night with alternative versions of the Greek proposal coming in that there hasn’t been any preparation and it will be very difficult for the Eurogroup  to have prepared for the meeting so my expectation is we’ll be meeting again on Thursday before the full council meeting.”

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