Fonte/Source, Bloomberg, Euro-area finance ministers failed to reach a deal on Greece after meetings in Luxembourg, European Commission Vice President Valdis Dombrovskis said.
After four hours of deliberations, Greece and its creditors continued their stalemate over the steps Prime Minister Alexis Tsipras needs to take to unlock aid. Creditors said Greece must keep to the terms of its bailout agreement, a deal that Tsipras has so far rejected.
Euro-area ministers sent a “strong signal for Greece to engage seriously in negotiations,” Dombrovskis said on Twitter. “The Eurogroup stands ready to reconvene at any moment.”
Greece will now look to a June 25-26 summit of EU leaders in Brussels as a way to break the logjam before its financial lifeline expires. The euro area’s current bailout program expires on June 30, the same day Greece is due to pay the International Monetary Fund about 1.5 billion euros ($1.7 billion).
As ministers were wrapping up their meeting, a Greek government official said in Athens that his nation won’t be blackmailed. Greece aims to stay calm and decisive in the face of plots that aim to trigger capital flight and destabilize the country’s economic and financial system, the official said.
German Finance Minister Wolfgang Schaeuble didn’t comment after the meeting in Luxembourg. Other ministers followed suit and didn’t speak to reporters on their way out.
Ministers will take part in a second day of Luxembourg talks Friday, when all 28 European Union nations will gather to discuss a range of economic, tax and financial issues.