ECONOMY

Grexit not being discussed at Eurogroup, say Austrian and Cypriot finance ministers

grexit-not-being-discussed-at-eurogroup-say-austrian-and-cypriot-finance-ministers

A Greek exit was not discussed at Saturday’s Eurogroup, according to Austrian Finance Minister Joerg Schelling.

"We didn't talk about Grexit,” he said on Sunday as he arrived for the resumption of talks. “As I said yesterday, we have to made adjustments and guarantees for the implementation. With the adjustments we have made a step forward but not with the guarantees."

There was pressure on Greece on Sunday to find a way to build trust with its euro partners after six months of fraught negotiations.

"There could be alternative proposals which we put forward to the heads of government. I am always optimistic but it is a very very difficult negotiations because there are many points we have not agreed in between the euro group and in between with Greece."

Cypriot Finance Minister Haris Georgiades also insisted that a Greek exit was “definitely” not under discussion.

"Greece needs an ambitious reform plan and that is what we should mandate the institutions to negotiate today,” he said.