The chief of the Eurogroup Jeroen Dijsselbloem told journalists that the possibility of extending the Greek bailout program was still up for discussion.
Specifically, Mr. Dijsselbloem was asked whether the Greek program would be extended for six months, with the Eurogroup chief responding that would depend on Greek progress and that the troika would inform the Eurozone finance ministers.
The Dutch Finance Minister explained it the Eurogroup would have to determine whether it is possible to complete the Greek bailout program by the end of the year or not, before considering an extension. Mr. Dijsselbloem however expressed his concern over the ability of the Greek government to come to an agreement with the troika in the tight time limitations and urged all parties to make a greater effort.
The European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici commented that the Commission is aware of the efforts and changes in Greece looks forward to a deal that will reduce Greek debt and push forward reforms that will help strengthen the economy.
Mr. Moscovici explained that while there has been progress in certain issues, a lot of work is still necessary and added that while he does note expect a decision for a bailout extension on Monday, he was confident of progress.
