Eurogroup President Dijsselbloem ‘Hopeful’ of Greece Debt Deal on May 24

Eurogroup president Jeroen Dijsselbloem said on Friday that he believed Greece and its creditors could ink a debt relief deal for the cash-strapped country at a May 24 meeting.

Euro zone finance ministers are due to meet Tuesday to discuss Athen’s progress on a strict austerity program that was agreed under its current 86 billion-euro ($96 billion) bailout package, as well as the possibility of granting it debt relief so the country can cope with its repayments, Reuters reported.

It’s widely estimated that Athens needs more help to cover 3.5 billion euros ($3.96 billion) in debt payments coming due in July as its economy buckles under the additional weight of the region’s migrant crisis.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.