FRANKFURT (MNI) – There has been considerable progress in
negotiations between Greece and its international creditors, but no
agreement has been reached, German Finance Minister Wolfgang Schaeuble
said Wednesday.
Schaeuble said a video conference between finance ministers from
the Eurogroup earlier Wednesday had yielded “considerable progress,” but
with respect to reports that a deal had been reached, he said “this I
cannot confirm at all.”
“There is still a lot of work to do,” Schaeuble said, adding that
all sides are aware “the timing is tight,” given that Greece is likely
to run out of money in mid-November.
Eurogroup finance ministers in a statement after the conference
call Wednesday said the ministers “took note of the progress” in
negotiations between Greece and the troika of the European Central Bank,
European Commission and International Monetary Fund.
Finance ministers will discuss the Greek program further at their
next regular meeting on November 12. Greece is lobbying for a two-year
extension to meet its deficit targets.
The European Commission earlier Wednesday also said that Greece
and its international lenders still have differences to resolve before a
E31.5 billion aid tranche can be released.
Schaeuble also said that no “concrete” negotiations have begun on a
bailout program for Cyprus. He expects negotiations not to start until
2013.
— Frankfurt bureau: +49 69 720 142; email: ccermak@mni-news.com —
[TOPICS: M$G$$$,M$X$$$,MGX$$$,M$$CR$,M$Y$$$]
