French Fin Min: Monday’s Eurogroup Decides Amount of Time Given to Greece



sapenFrench Minister of Finance Michel Sapin said from Davos that the amount of time given to Greece until negotiation of the bailout program will be decided on Monday’s Eurogroup.

During the meeting of the euro zone’s finance ministers, the French official said that the only thing the Eurogroup can give Greece at the moment is time. “Discussions are to dwell on how long can Greece be self-contained as far as liquidity is concerned.”

“Will Greece be able by the end of March to pay its civil servants?” the French Minister wondered.

Euro zone’s finance ministers will have to decide how much time the new Greek government will need in order to be able to sit down with its creditors and negotiate the financial aid program.

During the December 8 Eurogroup, it was decided to extend the support program — which was formally ending in December — until the end of February. The extension was given so that Greece had sufficient time to complete the process of electing President of the Republic.