Euro zone to encourage Greece talks on Monday, deal not yet in sight

Euro zone finance ministers are likely to acknowledge on Monday an improvement in the structure and organisation of talks with Greece on funding for reforms, but a final agreement is not yet in sight, a senior euro zone official said on Friday.

“I do not expect a lengthy or contentious debate,” the official said.

A high probability of a final agreement on reforms between Greece and its international creditors is a condition for the European Central Bank to raise the amount of T-bills that Greek banks can use as collateral in open market operations – a move that would instantly ease Greece’s liquidity constraints.

“The ministers will take stock of the situation, based on the reports by the institutions,” the official said.

“From what I have heard, one can say that the organisation and structure of the talks has improved, compared to what it was before, but we are still quite some way away from a situation that you could describe as a final agreement being well in sight,» the official said.

“There will be no final conclusion on Monday of course. I would presume that the ministers will say: ‘this is fine, if things are going better, keep on working.'”


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