European Union finance ministers are preparing to meet on Greece amid signs that country may fall short of economic commitments it needs to meet for its next tranche of aid under a multi-billion euro bailout plan.
Advertisement
The group is often referred to as “Club Med”, even though Portugal is not on the Mediterranean.
The 27 European Union leaders – the entire bloc, except Britain – will gather on September 16 to discuss the fallout from the British vote in June to quit the EU.
The leaders said they would meet again Portugal, with a view to further sharpening a shared vision on migration, security and economic growth.
ATHENS, Greece (AP) – Greek Prime Minister Alexis Tsipras hosted leaders of Europe’s Mediterranean countries Friday as his government rejected a return to European Union immigration rules that existed before last year’s crisis.
They also confirmed that the Eurogroup had called for a rapid completion of remaining milestones by the end of September so that the remaining 2.8 billion euros in bailout loans might be disbursed, with Tsakalotos agreeing that it was in everyone’s interests for the prior actions to be completed soon.
“At the time of Brexit, and while populism is on the rise in Europe, it is very important to send a message of cohesion and contribute to the dialogue from southern Europe”, French President Francois Hollande stressed.
But Renzi, who has often challenged fiscal orthodoxy, stressed Friday that “we are at a phase where Europe can not go on being just about rules and technicalities”. “A social Europe, of ideals and of virtue”.
Greece’s creditors are mostly concerned with staffing picks proposed by Athens to run the privatisation fund, which are seen as too inexperienced or too politically linked to the ruling Syriza party, a European source told AFP.
Delays by Athens make it easier “for creditors to hide their differences and blame Greece”.
“It is now common knowledge that Europe is at a critical crossroads”, Tsipras said. Spain’s prime minister was unable to attend. 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.
“It’s not a secret. that there is a lot to be done to complete these reforms”, he said.
“The fact that (French) President Hollande – probably for internal political reasons – and (Italian) Prime Minister Renzi are letting Mr. Tsipras manipulate them is not really a sign of responsibility”, Weber said.
Under a deal signed past year with euro zone countries, the European Central Bank and the International Monetary Fund, Greece can receive financial assistance of up to 86 billion euros by 2018 in return for agreed reforms.
Advertisement
The country has already passed a raft of pension and tax reforms.
