Dijsselbloem: Greece, EU deal must happen within two weeks

A agreement must be reached between the European Union and Greece on the country's debt problem within two weeks, Eurogroup president and Dutch Finance Minister Jeroen Dijsselbloem said to BNR. As far as Dijsselbloem is concerned, a cancellation of debt is out of the question, but an extension on repayment terms or a re-examination of interest rates can provide extra space. "We still have to agree on a number of additional measures, a kind of guarantees we asked of them. Legally this seems to be still quite complicated. We can use this extra time to explore the possibilities of further debt relief." Dijsselbloem is positive that a solution will be reached. The Greeks' VAT increase and pension reform gives him a little peace of mind. And possible shortfalls can be compensated for by implementing automatic tax increases and cuts in public spending - thereby guaranteeing a balanced budget, he said to the broadcaster.