16 Feb 2015
Eurogroup meeting put on hold after Greece says draft “unacceptable”
FXStreet (Córdoba) - EU official said the Eurogroup meeting was put on hold after Greece rejected a draft that said the Hellenic country will request a 6-month technical extension of the existing bailout programme.
The Eurogroup proposal draft also said Eurozone would make use of “flexibility in the current programme” and called on Greece to “refrain from unilateral action”. Draft said Greece would commit to appropriate primary fiscal surpluses and any new measures should be funded.
Greek official said the proposed draft was “absurd” and “unacceptable” as it insisted on a bailout continuation. "Those who keep returning to this issue are wasting their time. Under such circumstances, there cannot be a deal today”, said the Greek official as reported by Reuters.
Greece’s bailout programme is due to expire on February 28. While Eurogroup, chaired by Jeroen Dijsselbloem’s, is insisting on Greece to take an extension of the 240 billion euros package, Greece’s new government had refused constantly to the idea.
The Eurogroup proposal draft also said Eurozone would make use of “flexibility in the current programme” and called on Greece to “refrain from unilateral action”. Draft said Greece would commit to appropriate primary fiscal surpluses and any new measures should be funded.
Greek official said the proposed draft was “absurd” and “unacceptable” as it insisted on a bailout continuation. "Those who keep returning to this issue are wasting their time. Under such circumstances, there cannot be a deal today”, said the Greek official as reported by Reuters.
Greece’s bailout programme is due to expire on February 28. While Eurogroup, chaired by Jeroen Dijsselbloem’s, is insisting on Greece to take an extension of the 240 billion euros package, Greece’s new government had refused constantly to the idea.