Greek PM to meet Commission chief for debt talks

Written By Unknown on Senin, 02 Februari 2015 | 22.40

Greek Prime Minister Alexis Tsipras will meet European Commission President Jean-Claude Juncker in Brussels on Wednesday.

The meeting will be part of a diplomatic push by the new Greek government this week to advance its case for a renegotiation of the country's debt.

The announcement follows an apparent softening of rhetoric on both sides of the debate in the wake of last week's election win by the far-left Syriza party in Greece, and the apparently confrontational style of the new government.

On Saturday, Mr Tsipras issued a statement saying that he was "absolutely confident that we will soon manage to reach a mutually beneficial agreement, both for Greece and for Europe as a whole".

He said that Greece would honour its debt obligations to the ECB and the IMF, although he did not mention the eurozone which holds around 60pc of the country's €315 billion debt.

It is understood Mr Tsipras issued the statement after a phone call with Mr Juncker.

New Greek Finance Minister Yanis Varoufakis is meeting British Chancellor of the Exchequor George Osborne today, following his meeting with the French counterpart Michel Sapin in Paris yesterday.

Mr Sapin said France would support Greece's efforts to "alleviate" its debt, although he ruled out any debt cancellation.

Mr Varoufakis also held one hour of informal talks with the EU Commissioner for Economic and Financial Affiars Pierre Moscovici, which a commission spokesman this morning described as "constructive".

Mr Tsipras is also expected to meet French President Francois Hollande and Italian Prime Minister Matteo Renzi this week.

In a further conciliatory signal today, the European Commission hinted at the possible replacement of the troika - the officials representing the European Commission, the IMF and the ECB - with another body sometime in the future.

Without going into specifics, commission spokesman Margaritis Schinas drew attention to Mr Juncker's recent political guidelines to the European Parliament, in which he stated:  "In the future, we should be able to replace the 'troika' with a more democratically legitimate and more accountable structure, based around European institutions with enhanced parliamentary control both at European and at national level."

The new Greek government has made it clear it has no wish to continue negotiations with the troika in its current form.

On Sunday, the Greek finance minister said he hoped agreement could be reached with international creditors on a renegotiation of the country's debt by the end of May.

Greece wants a debt write-down via a debt conference.  Most eurozone capitals so far, while expressing sympathy for Greece, have spoken in terms of easing the debt burden via a reduction in interest rates, or an extension in the debt maturities, rather than outright debt forgiveness.

Mr Schinas, the commission spokesman, insisted that any changes to the Greek bailout would require the unanimous support of all 19 eurozone finance ministers.


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