BUSINESS

ESM chief Regling says Greece and creditors could agree in next four weeks

TAGS: Economy, Euro

Klaus Regling, the managing director of the European Stability Mechanism, believes that Greece and its lenders can conclude their negotiations over the bailout review within the next month.

Speaking to the Wall Street Journal, Regling indicated that although “politically difficult issues” are being discussed, a compromise can be found.

“Under the best of circumstances these are technically and politically difficult issues,” he told the newspaper in an interview published on Wednesday. “And that’s why it is very difficult to say whether this takes another two weeks or another four weeks. But I think it is not unrealistic to expect that over the next four weeks this is going to conclude.”

Greek Finance Minister Euclid Tsakalotos suggested in an press conference on Tuesday that there could be a deal this month and that an extraordinary Eurogroup could be held on April 25 or 26 to rubber stamp the agreement.

The talks broke off on Tuesday ahead of the International Monetary Fund’s spring meetings, which representatives of Greece’s four lenders as well as Tsakalotos are due to attend, but Regling denied that the pause indicated a breakdown in the process.

“I would still not say it ended abruptly this week because we know why there was a pause agreed in Athens,” he said. “People who did the work in Athens until today, they are now on planes and there will also be talks about the remaining issues in Washington, because everybody is there.”

Online