Greece fails to 'bridge gaps' in EU bailout talks: European Commission
Bailout talks between Greece and its international creditors have failed, leaving the matter in the hands of eurozone finance ministers, a European Commission spokesman says.
“While some progress was made, the talks did not succeed as there remains a significant gap between the plans of the Greek authorities and the joint requirements of the Commission, ECB and IMF,” a European Commission spokesperson, whose name was not mentioned in the report, said on Sunday.
According to the spokesperson, Greece’s proposal still remains incomplete as it falls short of presenting the required reforms to free the 7.2 billion euros (about $8.1 billion) still remaining in the country’s international bailout, which is set to expire on June 30.
Greece’s international lenders - the European Central Bank (ECB), the International Monetary Fund (IMF) and the European Commission - refuse to pay Athens the remaining part of the debt-ridden country’s bailout program, on the basis that the country must first implement further economic reforms.
“On this basis further discussions will now take place in the Eurogroup,” the spokesperson said, referring to a eurozone meeting of finance ministers, scheduled to take place in Luxembourg on June 18.
European Commission President Jean-Claude Juncker is still sure that “stronger reform efforts” by Greece will aid reaching a solution by the end of the month, the spokesperson added.
Greece’s government has said that a proposal on reform by Athens’ international creditors is “irrational,” blaming the impasse on reaching an agreement on what is referred to as the IMF’s hardline stance on the subject.
SRK/HSN/AS
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