French Finance Minister Michel Sapin hinted at a slight easing ofeuro zoneopposition to Greek requests for an end to austerity and a new debt deal, saying Europe must respect the political change in Athens. On arrival in Brussels, he urged the Greeks to extend their current deal to allow time for talks.
EU Economics Commissioner Pierre Moscovici, a former French finance minister, declined to discuss what might happen if they failed to reach a deal. The "only aim", he told reporters on arrival for the meeting, was to keepGreecein theeurozone, fully respecting its commitments to creditors while "taking into account the programme that the Greek voters chose".
Last week, the same19 finance ministers of the Eurozonecouldn’tarrive at a common position concerningthe Greek main demand of a“haircut”, that is: reducing Greece's debt burden. The president of the EurogroupJeroen Dijsselbloem let it then be understood that an extension of the present program for Greece would eventually be possible, but that for the time being“not enough progress has been done to arrive at common conclusions”.
Dijsselbloem warned that time was short since the bailout programme expires at the end of this month with no solution in sight so far.
Greece's radical left government wants a lightening in its bailout debt as well as an easing in required budget austerity measures.
Eurozone nations have said Greece should not count on any forgiveness of its debts, although several countries have hinted that changes — such as to repayment schedule — might be considered.
Greek officials have made it clear that they have some "red lines", namely a refusal to run large primary budget surpluses (the balance before interest payments on debt) and that the debt must be restructured.
The Greek approach to date has been to talk about negotiations but make strident and sometimes threatening demands, rationalized by Prime Minister Alexis Tsipras' anti-austerity sweep in popular elections.
http://www.neurope.eu/article/france-hints-easing-greece