BERLIN (MNI) – The German finance ministry is growing “increasingly
optimistic” about reaching an agreement with its Eurozone counterparts
on a second aid package for Greece, but there are still some details to
be nailed down, the ministry said Monday.
“There still exists the need for negotiations,” finance ministry
spokeswoman Marianne Kothe said at a regular government press conference
here.
There are still talks underway about how the goal of reducing
Greece’s public debt ratio to 120% of GDP by 2020 can realistically be
achieved, Kothe said.
Moreover, the participation of the International Monetary Fund in
the second Greek aid package is also still subject to negotiations, she
explained.
Eurozone finance ministers will gather in Brussels today to try and
strike a deal on a new bailout for Greece, estimated at E130 billion —
though the exact number is also subject to debate. Such a deal is needed
in order for a E100 billion debt reduction deal between Athens and its
private sector creditors to move forward.
The German government said on Friday that German Chancellor Angela
Merkel, Italian Prime Minister Mario Monti and Greek Prime Minister
Lucas Papademos were “confident” that the Eurogroup on Monday “will
agree on a solution to still-open questions.”
In a telephone conference on Friday, the three leaders discussed
the state of the Eurozone and efforts for a second Greek rescue package.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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