01:48 GMT +309 December 2019
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    Greek Finance Minister Yanis Varoufakis gives statement after meeting with the leader of the Left party Gregor Gysi (R) in Berlin on June 8, 2015

    Debt Negotiation Talks Helpful, Productive - Greek Finance Minister

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    Greek Finance Minister Yanis Varoufakis on Monday praised “productive conversation” with his German counterpart Wolfgang Schaeuble on the Greek bailout plan and expressed hope it would solidify the negotiation process.

    A Greek flag waves in the breeze at Acropolis hill, in Athens on June 5, 2015
    © AFP 2019 / Angelos Tzortzinis
    ATHENS (Sputnik) Greece is currently in talks with its international creditors to secure additional financial aid before the current bailout plan expires on June 30.

    “I believe that today’s conversation is going to be very helpful in solidifying the process of the last few days or weeks before we have a final solution to the ongoing conversations,” Varoufakis told reporters after the meeting with Schaeuble.

    The Greek minister added that sides share a common understanding of the problem, and the purpose of the meeting with Schaeuble was to achieve a commonly designed and agreed solution to the problem.

    On Wednesday, a Brussels meeting between European Commission President Jean-Claude Juncker and Greek Prime Minister Alexis Tsipras failed to lead to an agreement on a bailout package as Athens refused to compromise on unpopular social reforms demanded by the creditors.

    Greece was particularly hard-hit by the aftereffects of the 2008 economic crisis, quickly going into a $350-billion debt by accepting loans offered by the International Monetary Fund (IMF), the European Union and the European Central Bank.


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