French Fin Min optimistic an agreement “is not far”

Tuesday, June 13th, 2017
Last Update: 10:32

Following his meeting with both the Greek PM and his Greek counterpart, the French FinMin echoed an optimistic message suggesting that an agreement between Greece and its creditors “is not far” although he cautioned that the debt issue is rather complicated.

That being said, Kathimerini cites EU sources contending that France’s compromise proposal – namely the flexibility mechanism that will link debt relief with the GDP growth trajectory – is not likely to be deemed enough for the ECB to include GGBs in its QE program, at least not at the current juncture.

Reuters cites other EU sources who suggest that the upcoming Eurogroup is likely to come to an agreement in sync with the plan articulated by the IMF MD, i.e. the Fund is likely to stay on board “in principle”, without actual disbursements until debt relief measures are detailed.

Besides the debt discussion, Greece is likely to secure a €7.4-8bn loan disbursement at the upcoming Eurogroup according to the same sources, although it is yet to be seen whether this sum will be divided into sub-tranches.

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