Greece hoping to finally secure long-term debt relief deal

Greece hoping to finally secure long-term debt relief deal

Ireland's newly-appointed Finance Minister Paschal Donohoe also attended the talks in Luxembourg.

A senior International Monetary Fund official said they were still not satisfied the euro zone was ready to do enough on debt relief but had joined the bailout anyway as Greece risked being in difficulty again. In essence, that could mean payments could be postponed in the event of an adverse shock.

Eurozone officials advised ministers meeting on Thursday to offer €8.5bn, an European Union source told Reuters in Luxembourg.

Some euro zone scenarios show that with sufficiently high economic growth and budgetary discipline - a primary surplus above 3 percent of GDP for 20 years - Greece would not even need any debt relief. Last month he said everything pointed to stronger growth in Greece.

"We are really doing our best to find an agreement", said French Finance Minister Bruno Le Maire after talks on Monday with his Greek counterpart Euclid Tsakalotos.

There is now "light at the end of the tunnel", he said.

We have got used to delays resulting from Greek politics - a referendum, elections, problems in parliament holding up economic policy reforms that Greece was required to make.

European leaders, Rahman said, "want to spend their limited political capital addressing these challenges and the future of the EU, not yesterday's problems, which is how they see Greece". "The € 8.5 billion will cover the big service payment due in July and domestic clearance arrears within the next few months", said Regling, to add that excluding debt service payments, he is confident that Greece will be able to build up cash buffer. The country remains dependent on bailout loans from other eurozone governments.

Perhaps more importantly for the longer-term, the so-called Eurogroup made clear that it is ready to ease the burden of Greece's debt repayments at the conclusion of the current bailout program next year.

Another police shooting acquittal worries black gun owners
Glenda Hatchett , a lawyer who represented Valerie Castile, said her son had suffered a "tragic, tragic needless death". According to a squad vehicle video, the 29-year-old officer asked Castile for a driver's license and proof insurance.

Earlier, German Chancellor Angela Merkel said in Berlin that she hoped to see "results" at the meeting "that will help reward Greece's efforts in such a way that further payouts are possible".

On Thursday, more than 2,000 older Greeks marched through Athens to demonstrate against cuts to monthly pensions.

"We can't live on 300 euros" they chanted, with some waving sticks.

For Greece, that would limit the amount it has to pay out on debt servicing each year, money it can use to help the Greek economy and society.

Greece faced pressure today to accept a bailout deal with no new debt relief so that it can meet huge repayments and avert a fresh crisis this summer.

The IMF, which took part in Greece's two first bailouts, has long insisted that more debt relief was a necessary step to put the economy back on track. "This is a second-best solution, but it's not a bad solution", said Lagarde, a former French finance minister.

Officials said the most likely deal would see the International Monetary Fund formally join the Greek programme, but hold back from providing money to Athens until the euro area provides a greater level of detail on the debt relief it is willing to offer the country.

Greece is on track to receive vital bailout funds, after its global creditors narrowed their differences in a long-running dispute about the country's vast debt mountain.

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