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Greek debt talks to intensify as June deadline looms

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Greek debt talks to intensify as June deadline looms


Greek Prime Minister Alexis Tsipras emerged after the latest sleep-defying talks with his French and German counterparts in confident mood despite no break through.

All sides he said appear committed to resolving Greece’s debt default crisis and intend to intensify efforts as the June 30 deadline looms.

“The political leadership of Europe realises that we have to get a sustainable solution, to give Greece the opportunity to return to growth with social cohesion and safety, but also with a sustainable debt.,“said Tsipras.

Leaving the sidelines of a summit in Brussels Tsipras must now concentrate his efforts on Greece’s main lenders, the EU, European Central Bank (ECB) and the International Monetary Fund (IMF).

Our reporter Efi Koutsokostas said:

“Although differences between the sides remain, the meeting of the three leaders confirmed that Greece and its European partners do still want a solution. The technical talks will now take precedence over the coming days with the next important meeting being held today between Alexis Tsipras and Commission President Jean Claude Juncker.”

The chairman of the euro zone finance ministers says a cash-for-reform deal with Athens is still possible in time for their June 18 meeting, with just a few issues remaining to be solved, but Greek counter-proposals were not yet satisfactory.

The talks have been deadlocked over Greece’s rejection of the creditors’ demands for cuts in pensions and unpopular labour market reforms as conditions for releasing frozen bailout funds.

Greece will be in default at the end of June without fresh funds to let it repay 1.6 billion euros to the IMF. It put off a smaller repayment earlier this month under a rarely used IMF rule allowing it to combine all payments due in any month.

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