NEWS

Senior member of Irish PM’s party says outline of Greek deal clear

senior-member-of-irish-pm-amp-8217-s-party-says-outline-of-greek-deal-clear

A senior member of Ireland's ruling party Fine Gael on Sunday said the use of EU structural funds, funding from the ECB and debt restructuring could be a part of a new bailout deal for Greece if it makes clear it wants to remain in the eurozone.

Brian Hayes, a member of the European Parliament and a former government minister who frequently represents prime minister Enda Kenny's party in the Irish media, said it was "critical" that Greece apply for a third bailout.

"The outlines of a deal are relatively clear. Reasonable financial assistance to allow the Greek banking system and economy to continue functioning," Hayes said in a statement issued by Fine Gael.

"The resources of the EU structural and cohesion funds and funding from the ECB will be needed to support investment and help the economy return to growth … Debt restructuring and reprofiling will be a necessary part of negotiations."

He said the Greek government would have to implement reforms and become more cooperative in negotiations.

"If negotiations are to proceed in an atmosphere of compromise it is also necessary that Greek political leaders ditch their aggressive, provocative language," he said.

[Reuters]