Eurogroup Talks on Greek Bailout Program Collapse

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By Aggelos Skordas

Without an agreement between the Greek government and the country’s European partners concluded a few minutes before 8:00 pm the critical Eurogroup held today in Brussels. The Greek side has characterized the Eurogroup draft statement as “unacceptable” and “unreasonable,” clarifying that no agreement can be reached under such circumstances. The draft text that was leaked hours earlier caused Greek Finance Minister Yanis Varoufakis‘ immediate negative response.

According to the Greek side’s non-paper, “the Eurogroup presented a text as a basis for discussion that is a radical withdrawal from the joint statements made by Mr. Dijsselbloem and Greek Prime Minister Alexis Tsipras last Thursday. Certain circles’ persistence on the implementation of the Memorandum by the new Greek government is unreasonable and unacceptable. The implementation of a Memorandum program has ‘left’ the table at the EU Summit. Those who restore it are wasting their time. In these circumstances, there can be no agreement today.”


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