Eurozone finance ministers are meeting with IMF officials in Brussels to discuss whether to release the next installment of bailout aid for Greece.
It’s the third round of talks in as many weeks.
EU Economic Commissioner Olli Rehn told reporters they just needed to “go a few more centimetres” to reach an agreement. He added: “This is essential now. Greece has delivered and now it’s delivery time for the Eurogroup and the IMF.”
The IMF says eurozone governments need to write off some of the money they lent to Greece to make its debt more sustainable.
When asked if a write off was being discussed, France’s Finance Minister Pierre Moscovici said: “We have all the possibilities on the table. Consensus is within reach if we are capable of seizing it. If everyone is reasonable, we can do it quite quickly.”
There are fears that if some of Greece’s debt were were written off, it could spark similar requests from bailout nations such as Portugal and Ireland.
It is also politically risky for the eurozone’s ‘paymaster-in-chief’ Chancellor Angela Merkel as she seeks re-election next autumn.