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January 27, 2022

Eurozone Greek bailout talks begin in Brussels

Eurozone finance ministers have arrived yesterday in Brussels to expressed confidence that an agreement will be reached to secure a second bailout for Greece, BBC informs. French Finance Minister Frederic Baroin said that all of the elements for a deal were in place.  But his Greek counterpart Evangelis Venizelos said haggling would go on “until the very last minute”. Athens needs the EUR 130 bln in order to avoid bankruptcy next month, when loans must be repaid. As he arrived at the talks, Jean-Claude Juncker – prime minister of Luxembourg and chairman of the eurozone finance ministers group – said he hoped they would be “the final consultations”. Venizelos said he now expected the “long period of uncertainty” to end. “The Greek people send to Europe the message that they have made, and will make, the necessary sacrifices for our country to regain its position of equality within the European family,” he said in a finance ministry statement issued in Brussels on Monday. German Finance Minister Wolfgang Schaeuble also said he was “optimistic” a deal would be reached, while Baroin said he would plead for the deal. Eurozone leaders and the IMF said in October that Greek debt should be reduced to the more sustainable level of 120 pc of GDP by 2020.

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