The Eurogroup’s 18 June meeting has long been expected to mark a turning point in the Greek crisis following four months of unfruitful negotiations between Athens and its international lenders. Both sides have expected to seal a deal in order to avert a Greek default. But the talks have turned into a blame game and no agreement is in sight only a few days before the country’s bailout programme expires on 30 June.
In absence of a cash-for-reforms deal, Athens…
Decision on Eurogroup presidency postponed
The Greek saga has altered the Eurogroup’s plans to elect its next president. The incumbent, Dutch Finance Minister Jeroen Dijsselbloem, announced on the eve of the eurozone finance ministers´ 18 June meeting that he would postpone the election to July as “Greece requires all attention”. Dijsselbloem also said on his twitter account that the “election should not lead to debate on procedures”. Spain has fought for the postponement of the election to the Eurogroup next meeting, scheduled for 13 July, as the country´s candidate, Minister of Economy Luis de Guindos, expects to have better chances of succeeding in his bid if the EU’s leaders discuss the nominations during their summit, on 25-26 June. Spanish Prime Minister Mariano Rajoy expects to benefit from German Chancellor Angela Merkel´s backing in building a consensus around de Guindos. If his attempt fails, the Eurogroup will take a decision by simple majority. Sources close to Dijsselboem were “confident” as they count 11 votes of support. However, the situation could change as some member states are still undecided.