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EU official confident Eurogroup will reach comprehensive solution for Greece

ELENI VARVITSIOTIS

TAGS: Euro, EU

A senior European Union official on Tuesday expressed optimism that a Eurogroup meeting on Thursday will reach a comprehensive agreement on the completion of Greece’s fourth program review, debt relief and post-bailout supervision.

"I am 70-80 percent certain that an overall agreement will be reached,” the official told journalists ahead of the meeting of eurozone finance ministers in Luxembourg.

He said the International Monetary Fund will not activate its program for Greece but the solution reached will be credible for the markets.

The official said is it “no surprise” that the IMF will not finance the bailout program and this development has already been factored in by the markets.

However the IMF will participate on the basis of Article 4 in Greece's post-program surveillance, he added.

The Fund’s debt sustainability analysis is expected in the coming weeks.

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