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Tuesday 25 October 2016

Talks aimed at securing Greek bailout appear to stall as Finland pushing for Grexit - source

Published 11/07/2015 | 21:39

Greek Prime Minister Alexis Tsipras
Greek Prime Minister Alexis Tsipras

Crucial talks aimed at securing a Greek bailout appear to have dramatically stalled in a major setback for the eurozone.

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Eurozone finance ministers have struggled to find common ground during emergency talks in Brussels, sources say.

It's understood that the Finnish Government is resisting proposals aimed at delivering a deal for embattled Greece after significant concerns were raised domestically.

A report in Finland said the country's government was close to collapse tonight over the prospect of the eurozone accepting a new deal

Germany too has been hostile in today's talks as reports emerge that the country's Finance minister Wolfgang Schauble wants Greece to exit the euro for five years and be given a humanitarian aid package.

During a dramatic day of negotiations, several ministers spoke of a lack of trust with the Greek government, led by Prime Minister Alexis Tsipras.

Michael Noonan was hopeful that a deal could be found but warned that the Greek Government must deliver quickly on its pledge to implement a suite of austerity measures.

As ministers convened for dinner after 7pm, it seemed likely that a deal could be reached.

But a source told tonight that ministers have struggled to find "common ground".

It's understood that Finland is central to the opposition due to concerns raised domestically.

It's now likely that an emergency summit of the heads of States will be convened on Sunday.

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