German Chancellor Angela Merkel believes Greece can still reach a deal on its bailout terms

18th June 2015


German Chancellor Angela Merkel has claimed she is confident that an agreement can be reached on Greece’s bailout terms.

According to BBC News, Merkel said she is “still convinced” that a Greek debt deal is possible and that it could come to a compromise with its trio of creditors, which include the European Union, the International Monetary Fund as well as the European Central Bank.

Speaking before a meeting of eurozone finance ministers in Luxembourg on Thursday, Merkel asserted that while she was doing all she could to keep the economically embattled nation in the euro, Athens officials had to come good on their reform commitments.

“I’m still convinced – where there’s a will, there’s a way,” she said. “If those in charge in Greece can muster the will, an agreement with the three institutions is still possible.”

But time is running out for Greece, as it has just until the end of June to reach a debt deal or face defaulting on its €1.6bn loan repayment due to the crisis lender the IMF.

Speaking to the BBC’s Radio 4 Today programme, Greece’s chief negotiator and junior foreign minister Euclid Tsakalotos urged that any deal had to be economically viable.

He said: “A couple of weeks ago, we presented our ideas, which we thought was the common ground of the negotiations of the last two or three months.

“We think that we have been in a compromising mood, we’ve been suggesting ideas, whereas the institutions presented a paper that was very close to their original bid.

“So what we are saying is that further compromises can be made, we can search for common ground, but the end product of what we agree on reforms, on the financing for the future, on the investment programme must be economically feasible.” He added that Greece too, must be able to keep its fiscal promises.

Leave a Reply

Your email address will not be published. Required fields are marked *