Euro zone finance ministers and the International Monetary Fund made their third attempt in as many weeks to agree on releasing emergency aid for Greece on Monday, with policymakers saying a write-down of Greek debt is off the table for now, Reuters reported.
Greek Finance Minister Yannis Stournaras said he was confident the ministers would reach a deal after Greece fulfilled its part of the deal by enacting tough austerity measures and economic reforms.
“I’m certain we will find a mutually beneficial solution today,” he said on arrival for what was set to be another marathon meeting.
Greece, where the euro zone’s debt crisis erupted in late 2009, is the currency area’s most heavily indebted country, despite a big “haircut” this year on privately-held bonds. Its economy has shrunk by nearly 25 per cent in five years.
EU Economic and Monetary Affairs Olli Rehn said it was vital to disburse the next 31 billion euro tranche of aid “to end the uncertainty that is still hanging over Greece”.
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Euro zone seeks Greek aid deal