Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
400px-Jeroen_Dijsselbloem_2013-1
- Credit: Jeroen Dijsselbloem (Picture: Wikimedia Commons/Rijksoverheid.nl)
Business
bailout package
Debt Crisis
eurogroup
Eurogroup crisis
European Union
Eurozone
Eurozone crisis
Greece
Greek crisis
Greek government
Jeroen Dijssenbloem
Master Financial Assistance Facility Agreement
Yanis Varoufakis
Thursday, 19 February 2015 - 18:25
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Dijsselbloem secures concessions from Greece for bailout extension

Eurogroup Chairman and Dutch Finance Minister Jeroen Dijssenbloem has scheduled an emergency meeting of Eurozone finance ministers in Brussels this Friday to decide Greece's application for an extension of their bailout package. Greek Finance Minister Yanis Varoufakis formally made the application in a letter to Dijssenbloem on Wednesday, and moved drastically closer to the strict position of the other EU ministers. In the letter, the Greek government promised to adhere to the existing debt program detailing a formal request for a six-month emergency extension of funding from the Eurogroup's Master Financial Assistance Facility Agreement, which was scheduled to terminate next Friday. The letter asked to retrieve a further seven billion euros from the bailout fund. It does not commit Greece to further future spending cuts. Instead Varoufakis wrote "the new government is committed to a broader and deeper reform process aimed at durably improving growth and employment prospects, achieving debt sustainability and financial stability". The application was firmly and abruptly rejected by Germany, who said that Greece had failed to meet the conditions expected by the Eurozone, with German Finance Ministry spokesperson Martin Jaeger calling it "not a proposal that leads to a substantial solution." "The letter does not meet the criteria agreed by the Eurogroup on Monday," he said, referring to a meeting in Brussels which failed to resolve the crisis. However, the European Commission spokesperson Margaritis Schinas described the proposal as a positive step towards a "reasonable compromise." Friday's meeting will mark the Eurogroup's third attempt in ten days to resolve the deadlock which arose after Greece elected a new leftist government.

Follow us:

Latest stories

  • CEO: Air France-KLM takes planet health very seriously
  • Cable car over Amsterdam IJ River could depart from Westerpark area metro station
  • Rotterdam's public transport company RET facing serious financial trouble
  • Lifeguards warn water still too cold for long swims despite rising temperatures
  • Dutch central bank leader Knot concerned after employees win substantial wage increases
  • PM Rutte acknowledges making mistakes with Groningen gas extraction

Top stories

  • Investigators find €80 million in cocaine at Dutch ports
  • Appeal denied: Joran van der Sloot temporarily extradited to U.S. tomorrow
  • Amsterdam to ban polluting traffic in large parts of the city from 2025
  • Hundreds of young Dutch people at risk of forced marriage during summer holiday
  • Dutch PM says blowing up Ukraine’s dam is a war crime
  • Grants will definitely replace student loan system this year; Applications start soon

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content