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Schaeuble optimistic about Greece deal, says it had been reached late May

TAGS: Politics, Economy

Germany’s finance minister has said he is optimistic that Greece will win the approval of its peers in the 19-country eurozone to get the next batch of rescue money due from its bailout program.

Arriving at the meeting of the of the finance ministers from the European countries that use the euro, Wolfgang Schaeuble said he was "optimistic that we will reach a result regarding the payout of the next tranche" of bailout loans.

He said that a deal had been reached since late May but Greece asked for a delay for domestic political reasons.

Greece needs the money to meet roughly 7 billion euros ($7.8 billion) in debt repayments in July that it will struggle to meet from its own resources. The country remains dependent on bailout loans from other eurozone governments.

Schaeuble also said previous agreements to consider reducing the burden of Greeces debt repayments if the country complies with all conditions remained "the framework" for talks.

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."

[Combined reports]

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