Eurogroup postpones debt sustainability talks for next review

The Eurogroup issued a statement on Monday regarding the recent macroeconomic developments in the Greek economy, praising the efforts of…

The Eurogroup issued a statement on Monday regarding the recent macroeconomic developments in the Greek economy, praising the efforts of the coalition government and its achievements.

The recent developments allowed the Minister of Finances Yannis Stournaras to formally request that discussions for debt relief be initiated, in accordance with the Eurogroup decision from November 2012.

In his response, the Eurogroup president noted that “the relative merits of possible debt sustainability measures, as stated by the Eurogroup on 27 November 2012, will be considered in the context of the next review”, which will take place in September.

The review scheduled for September will determine whether further action needs to be taken to secure the sustainability of Greek debt and – after the European stress tests of Greek banks have been completed – it will be known how funds will be available by the Financial Support Fund.

The full statement (in English) is available here.

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