Eurogroup President: ‘We are Not Very Close to an Agreement With Greece’

“A solution will be found for Greece” stated Eurogroup president Jeroen Dijsselbloem in an interview with the Saturday edition of Corriera della Sera newspaper.

“On financial terms we are now more powerful than three years ago when the Athens crisis hit and now there is more trust regarding the recovery. Politically however, we must prove that we are united over the solution of the problems. The currency union is strong but it must face the lack of the political union” stated Dijsselbloem.

He also added that “all Eurogroup members are determined to keep Greece in the eurozone and to help the country return to growth and sustainability.” To a question if a plan B is ready, Eurogroup president explained “we are ready for everything but as politicians, as I said, we are determined to work in order the financial condition in Greece to become sustainable in the eurozone.”

Regarding the ongoing negotiations he said “we have made progress but we are not very close to an agreement. An agreement will not be reached at the Eurogroup meeting on Monday. More time is needed but I do not know how much time. There is no deadline for the agreement with Athens.”

Asked if the Greek government has cash only for a few days, Dijsselbloem said “nobody knows or maybe only the Greek government knows.” On the Greek government’s proposals, he said that “I know that a series of proposals were tabled but they must be evaluated. We at the Eurogroup are only interested in the final targets. Meaning, Athens to state the course in order to reach a fiscal sustainability with the success of primary surplus, the return to growth through the necessary reforms and to the financial stability of the banking system. These are the three pylons of the plan.”
(source: ana-mpa)


  1. “Prior to the Lisbon Treaty, the Eurogroup had no legal basis. This had some advantages as, because it was not a Council formation, it is smaller and more informal resulting in more constructive and confidential discussions than the full Ecofin Council. It also means that it does not have the usual rotating six-month presidency meaning its work is streamlined and strengthened vs the other institutions.

    A formal legal basis was granted for the first time under the Lisbon Treaty when it came into force on 1 December 2009. Protocol 14 of the treaty lays out just two articles to govern the group”

    I think you should check this out.

    What was in place before?