French finance minister sees no Greek deal with eurozone on Monday

Talks between Greece and its eurozone creditors on Monday must show progress but won’t be decisive, French Finance Minister Michel Sapin said.

The Eurogroup of eurozone finance ministers meets in Brussels on Monday with Greece under pressure to reach a cash-for-reforms deal as it faces a 750 million euro payment to the International Monetary Fund on Tuesday.

The meeting of finance ministers “will be important but not decisive,” Sapin told reporters. “Things have progressed but are not ripe enough to allow to conclude this process.”

He added a “few more days or weeks” were needed to reach a deal. He said he had no doubt ‎on the political will on both sides and no worries over whether a deal would be reached eventually.

He declined to say if the Eurogroup would agree a statement on Greece and also declined to give a new deadline on when a deal should be reached.

“This remains a complex and delicate process,” he told a news conference. “Things are tense on the Greek side.” [Reuters]

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