They will also “start the first discussions about how to make Greece’s debt sustainable in the long term”, Juncker told the German papers. Greece has “basically achieved” the objectives of the reforms required by its creditors and its eurozone partners will begin discussing possible debt relief for the country, according to European Commission head Jean-Claude Juncker. The Eurogroup, comprised of the 19 finance ministers of the euro area countries, is set to meet on Monday in Brussels and take up this review of Greek reforms. But the IMF also said there were “significant gaps” in Greece’s reform offers. Greece’s creditors carried out the review intended to evaluate progress on reforms by the Athens government as it hopes to unlock the next tranche of its €86bn ($95bn) bailout agreed in July.

Source: The Guardian May 07, 2016 22:03 UTC