According to a publication by the U.S. newspaper Wall Street Journal, Greece’s creditors seem to be deeply concerned about the rhythm in which the Greek structural reforms are being put through by the government.
The article published late on Friday reveals that shortly after the meeting of the eurozone’s finance ministers (Eurogroup) last Monday in Brussels, senior officials of the International Monetary Fund, the European Commission and the European Central Bank, as well as the finance ministers of Germany and France, Wolfgang Schaeuble and Pierre Moscovici, held a secret meeting on the Greek financial crisis.
The Greek finance minister Yiannis Stournaras, who was briefing the press in a building across the street at the time, wasn’t invited, mentioned the WSJ.
During the secret meeting, the officials tried to tackle two issues that threaten to unsettle the economic recovery of Greece and the eurozone, in general.
The participants tried to find a way for pressing the Greek government to forge ahead unpopular structural reforms, while also exploring additional funding sources. These would be used to cover a shortfall in the country’s financing for the second half of 2014, which is estimated at 5 to 6 billion euros.
The meeting was inconclusive, said people familiar with the situation, who spoke to the newspaper on condition of anonymity, as they weren’t authorized to talk to the press.
Concerns are growing because Greece faces a large maturity of state bonds in May of €11 billion. The IMF hasn’t disbursed any aid to Greece since last July and is €3.8 billion behind in scheduled aid payments. The IMF insists on having a clear view of the country’s finances 12 months ahead, but this condition hasn’t been met yet.
Upon being asked about the publication, Greek finance ministry officials stated that such meetings are frequently held as part of the Eurogroup and shouldn’t cause any concerns.
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