us all parties need to move on greece
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

US: All parties need to move on Greece

Arab Today, arab today

Arab Today, arab today US: All parties need to move on Greece

US Treasury Secretary Jacob Lew
Dresden - AFP

Greece and its creditors need to move if the debt-wracked country is to remain in the eurozone, the United States said Friday, as Athens' European partners insisted there was still a lot of work to do.

"All parties need to move," US Treasury Secretary Jacob Lew told a briefing after a meeting of Group of Seven finance ministers and central bank chiefs wrapped up in Dresden.

After four months of negotiating to unlock some 7.2 billion euros ($7.9 billion) in bailout cash, Athens' coffers are near empty and officials have indicated they might not be able to make a payment due next week, an event that might trigger a chain of events that could lead to a messy exit from the euro.

"There needs to be some flexibility on the part of the institutions," namely the European Central Bank, the International Monetary Fund and the European Commission, Lew said.

The three, formerly known as the "Troika", are demanding that the Greek government push through economic reforms in return for fresh bailout funds.

There was a "broad view" among the meeting participants that "Greece needs to make very tough decisions," the US finance chief continued.

But "one won't happen without the other," he insisted. Washington had "delivered the same message to all participants."
The radical left Syriza party of Prime Minister Alexis Tsipras that swept to power in January on an anti-austerity platform has been reluctant to sign up to more tax hikes and spending cuts.

"Everyone agrees that resolving this without crisis would be in interest of everyone and the global economy," he said.

The finance ministers and central bank chiefs of the world's seven wealthiest nations had met in the eastern German city to prepare for a wider summit of G7 leaders starting on June 7.

And while Greece was not officially on the agenda, it was discussed because representatives of the key actors in the discussions -- IMF chief Christine Lagarde, ECB president Mario Draghi and the EU's commissioner for economic and monetary affairs Pierre Moscovici -- all attended.

Lagarde had caused a flurry the day before by saying in a newspaper interview that a so-called "Grexit" -- or Greek exit from the eurozone -- was "a potential."

The IMF subsequently scrambled to clarify her comments by saying Lagarde hoped it was a scenario "the Europeans will not have to face because hopefully they will find a path to agree with the future of Greece within the eurozone."
French Finance Minister Michel Sapin insisted: "There is no Grexit scenario."

There had been "progress" in the negotiations, but "results are still insufficient so far," Sapin said.

The meeting's host, German Finance Minister Wolfgang Schaeuble, also sought to play down assertions by Athens that Greece is on the verge of reaching a deal with its creditors.

"The positive reports out of Athens don't fully reflect the state of talks," Schaeuble said.

The Greek government has sent mixed signals about how close the two sides are to a deal. On the one hand it has suggested that an agreement could be reached by Sunday.

But Finance Minister Yanis Varoufakis told VimaFM radio on Friday said that while a deal was close, under a February agreement "the country's aid programme was prolonged until June 30, thus that is the date by which we need to arrive at a deal."

If Varoufakis sees the end of June as the ultimate deadline for a deal, this would offer Athens and its creditors a longer timeframe to conclude their talks than next week, when Greek officials have said they may not have enough money to make a loan repayment to the IMF.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us all parties need to move on greece us all parties need to move on greece

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us all parties need to move on greece us all parties need to move on greece

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday