Eurozone finance ministers are meeting in Slovakia today amid concern that Greece is not doing enough to satisfy the conditions of its most recent bailout.
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Bringing together the members worst hit by the EU’s twin recession and refugee crises, the mini-summit will focus on “protecting borders, fostering growth, fighting against immigration. and acting together against terrorism”, French President Francois Hollande said at the meeting’s start. Because it hasn’t delivered on the reform promises it has made, it can’t yet get hold of the 2.8 billion euros ($3.2 billion) that is next due from this current phase of its bailout program. And while the ministers do not appear concerned about stretching that deadline, there are limits – the disbursement of the money has to happen by October at the latest.
Greece’s debt crisis could flare up again as ministers will discuss whether the final chunk of multi-million euro bailout to Athens should be released.
Stick with us for developments in Bratislava. “We all want it, there’s a political will”. Even some of the country’s biggest skeptics showed few, if any, sign of any annoyance.
German daily Handelsblatt reported that a source in Brussels said Greece was unlikely to receive any further payments on Friday, or after the next Eurogroup meeting on 21 September. The €7.5bn given in June could end up being the only part of the third bailout Greece receives – unless more reforms are pushed through.
After slipping behind rival conservatives in opinion polls, Tsipras’ left-wing government is pressing lenders to grant Greece debt relief measures – more generous repayment terms considered vital to revive the economy burdened by a national debt set to peak at around 185 percent of gross domestic product this year.
Tax policies within the European Union also were on the agenda at the Bratislava meeting amid calls for an end to corporation loopholes.
Similarly, senior German EU insiders on Thursday cautioned southern European states against pushing for the bloc’s fiscal rules to be eased, saying a strong and stable union was more essential than ever following the Brexit vote.
More than a million refugees and migrants traveled across Greece since the start of a year ago and authorities are struggling to cope with 60,000 people stranded here by European border closures.
“The message must be heard”, he said.
Kyritsis said the migrant relocation deal ought to have seen 33,000 people transferred to other European Union countries from Greece so far.
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Kazimir projected optimism nonetheless, declaring “the future is bright”.
