(Reuters) - The German government on Thursday denied a Greek media report that Finance Minister Wolfgang Schaeuble and his Greek counterpart Gikas Hardouvelis had reached an agreement on further support for Greece after it exits its bailout program.
"We deny media reports that Germany and Greece agreed yesterday about future aid for Greece once its ongoing bailout program is over," a spokesman for Schaeuble said in a statement.
Both finance ministers held a bilateral meeting on Wednesday on the sidelines of a tax conference in Berlin, but this was "without concrete results", the spokesman added.
Greece's Kathimerini newspaper had reported that Hardouvelis had secured a commitment from Schaeuble that the euro zone partners would approve an early exit from the program with a precautionary credit line if all was in place by year-end.
Greek officials have for weeks been talking with lenders about the possibility of a credit line that would be extended beyond the bail-out by euro zone partners to provide support in the case of unexpected events, according to people close to the Greek government.
Greece wants this to come without strict conditions, saying it has shown its commitment to economic reforms. Athens would prefer that the IMF were not party to such a credit line, partly to avoid further conditions, the sources said.
A spokesman for the IMF said Greece had made progress. "But as recent events have shown, there’s still a way to go before Greece can rely entirely on market financing," he added. The IMF views a precautionary arrangement as the best way for Greece to proceed, the spokesman said.
"Of course that’s for the Greek authorities to decide, and in consultation with its partners," he added. Greek Prime Minister Antonis Samaras told reporters last week at an EU summit in Brussels his government planned a "prudent" exit from its euro zone and IMF bailouts.
Samaras wants Greece to abandon an EU/IMF bailout by the end of the year, more than a year ahead of schedule.
reuters.com
"We deny media reports that Germany and Greece agreed yesterday about future aid for Greece once its ongoing bailout program is over," a spokesman for Schaeuble said in a statement.
Both finance ministers held a bilateral meeting on Wednesday on the sidelines of a tax conference in Berlin, but this was "without concrete results", the spokesman added.
Greece's Kathimerini newspaper had reported that Hardouvelis had secured a commitment from Schaeuble that the euro zone partners would approve an early exit from the program with a precautionary credit line if all was in place by year-end.
Greek officials have for weeks been talking with lenders about the possibility of a credit line that would be extended beyond the bail-out by euro zone partners to provide support in the case of unexpected events, according to people close to the Greek government.
Greece wants this to come without strict conditions, saying it has shown its commitment to economic reforms. Athens would prefer that the IMF were not party to such a credit line, partly to avoid further conditions, the sources said.
A spokesman for the IMF said Greece had made progress. "But as recent events have shown, there’s still a way to go before Greece can rely entirely on market financing," he added. The IMF views a precautionary arrangement as the best way for Greece to proceed, the spokesman said.
"Of course that’s for the Greek authorities to decide, and in consultation with its partners," he added. Greek Prime Minister Antonis Samaras told reporters last week at an EU summit in Brussels his government planned a "prudent" exit from its euro zone and IMF bailouts.
Samaras wants Greece to abandon an EU/IMF bailout by the end of the year, more than a year ahead of schedule.
reuters.com
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