Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Greece still 'hopeful' of positive statement from Eurogroup meeting

Published 10/05/2015, 18:27
Updated 10/05/2015, 18:32
© Reuters. A shop owner stands outside his souvenir shop in Athens

ATHENS (Reuters) - Greece's government remains hopeful that a meeting of euro zone finance ministers on Monday will note progress in talks with lenders on a cash-for-reforms deal and pave the way for an easing of Greece's cash crunch, a government official said on Sunday.

The Eurogroup of euro zone finance ministers have ruled out clinching a deal to unlock aid for Greece at Monday's meeting, saying that too many issues remain unresolved. Officials have said any statement they make is unlikely to be enough to allow the European Central Bank to raise the limit on short-term Treasury bills that Greek banks can buy, a move that would help avert a Greek national bankruptcy.

"We hope that the significant progress made will be recorded in the Eurogroup statement, which will be a positive sign regarding the prospect of reaching a final deal soon," said a Greek government official, who declined to be named.

"What is important is to get a signal for the funding strangulation to end."

Greece and its EU and IMF lenders remain at odds on budget, labour and pension issues but government ministers at a cabinet meeting on Sunday remained hopeful of such a statement, the official said.

Prime Minister Alexis Tsipras' leftist-led government, which came to power promising to end the austerity terms set for Greece's existing 240 billion euro bailout programme, has been locked in talks for months with its foreign lenders to try to secure fresh aid.

© Reuters. A shop owner stands outside his souvenir shop in Athens

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.