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

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.