French finance minister says no one can afford failure on Greece

Neither Greece nor its eurozone partners can afford a failure of the cash-for-reform talks, French Finance Minister Michel Sapin said on Thursday.

Talks are now on the right track after a late-night meeting on Wednesday between the leaders of Greece, France and Germany, Sapin told reporters, saying that discussions were needed both at a technical and political level.

“Time is pressing,” he said. “No one can afford failure.”