Greek debt relief talks delayed as country is urged to maintain reform momentum

Greek hopes of debt relief talks starting imminently were knocked back on May 5 2014 as a Eurogroup meeting essentially decided to delay commencement of negotiations until autumn 2014.

The Greek finance ministry had been cautious prior to the Eurogroup meeting as officials warned the Greek press it would be too optimistic to suggest talks to bring down the pile of debt Greece currently sits on would begin immediately. This realisation led to Finance Minister Yannis Stournaras not tabling proposals on debt relief as he was reportedly expected to do.

A statement issued after the Eurogroup summit highlighted the “remarkable adjustment efforts undertaken by the Greek citizens and authorities,” which “allows the Greek economy to enter a new phase, (…) towards sustainable growth.”

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(Photo of Jeroen Dijsselbloem, president of the Eurogroup: EC Audiovisual Service)