Eurozone finance ministers met to discuss the way forward for Greece in the context of the upcoming expiry of the country’s current economic adjustment programme.
The discussions were based on the technical work carried out over the past few days, setting out the differences between the current programme and the plans of the Greek government.
The Greek government rejected an extension of the current memorandum, although Greece’s Finance minister Yanis Varoufakis appeared hopeful for a solution at a press conference after the meeting.
“We could not accept an extension of the current programme as we believe that this is part of the problem,” stated the Greek Finance Minister.
On the contrary, Eurogroup President Jeroen Dijsselbloem noted that “the best way forward is the extension of the current programme.” He went on to highlight that there was a degree of flexibility within the programme, which could be negotiated between Greece and the institutions.
The negotiations will continue but Eurogroup remained firm that the negotiations will start when the Greek authorities submit a request for an extension of the programme accompanied by a clear set of commitments outlined by the ministers during the meeting.
A new Eurogroup meeting will possibly be held again on Friday, in what is seen as a deadline for the Greek government to submit an extension request.
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