Euro Group Not United on Greek Issue

The final phase of negotiations between the Euro Group and Greece is scheduled this week. A consensus has to be reached. Otherwise, Athens may be compelled to settle its financial obligations in full if an agreement cannot be achieved within the duration through concessions or argument. Greece proposed a bridge loan of up to six months.

The aim is to extend bailout intercessions with 10 days left until the present agreement runs out. This may seem illogical if the process should begin one week ahead for funds to be ready by the first week of next month. EU member states maintain their objective is to keep Greece in the euro region.

Greece asserts that it has to leave if its terms are not granted. Current conditions are beyond the nation’s capacity to repay its huge arrears. However, Germany has rejected this line of reasoning and declared again and again that the bailout is not flexible. The German-led group says the recent bridge loan offer allows

Athens to renegotiate the accord. Germany’s allies include Malta and the Netherlands. Slovakia has become more lenient on Greece while French Prime Minister Manuel Valls declared the offer of Athens is sound basis for negotiations. Portugal and Spain are not expected to look sympathetically at the position of Athens. At the same time, the country’s request for additional time was greeted by European Commission President Jean-Claude Junker positively, according to the EC spokesperson. The assessment is this can lead to an even-handed compromise.  

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