EU Leaders Hope Greek Deadlock to be Broken Next Month

Leading European officials hope the deadlock preventing Greece from getting much-needed bailout cash will be broken next month.

Jeroen Dijsselbloem, who chairs meetings of the eurozone’s 19 finance ministers, said Thursday that he hoped to report “the successful conclusion of the second review before the end of next month.” Greece has to meet a series of targets to get the money it needs to avoid bankruptcy.

Eurozone finance ministers meet on May 22 to assess Greece’s progress. It’s been held up over tax, pension and other reforms.

EU Economy Commissioner Pierre Moscovici is also optimistic about an agreement that would “then pave the way for the disbursement of funds.”

Dijsselbloem told EU lawmakers that this should allow the International Monetary Fund to participate “financially” in the Greek bailout program.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza