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Stormy meeting behind closed doors: Eurogroup Minutes leaked to Greek website

A great scoop for a Greek website that obtained the minutes from the Eurogroup meeting on May 22 2017. Economic news website publishes six pages of the minutes of the stormy meeting on Monday that ended in failure.

Blame is initially on the International Monetary Fund. Until the German proposal came through the Eurogroup chief. But then Greece rejected it saying this is the worst option.

Poul Thomsen, the Europe representative of the International Monetary Fund, torpedoed the meeting. he rejected all possible solutions, said Yes to bailout tranche disbursement but No to debt sustainability.

German finance minister Wolfgang Schaeuble spoke of “great failure” and remained stiff in his position.

Eurozone finance ministers from France and Italy supported Greece.

Greek finance minister Euclid Tsakalotos vetoed the second draft after he held a conversation with prime minister Alexis Tsipras in Athens.

Eurogroup head Jeroen Dijsselbloem admitted that he cannot find a solution that will satisfy all sides.

Dijsselbloem proposed the IMF participation without financial support. Thomsen replied this was a proposal we could talk about.

Tsakalotos said this is ‘the worst option’ of all options.

Two more pages form the minutes in

Read also: Schaeuble, IMF close to solution compromise that will delay decisions on Greek debt relief.

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  1. blackirishblonde

    This is a very informative article~~~

  2. And I’m going to guess the “worse option of all options” is the one they will choose and Greece will be told to bite the bullet once again.

  3. What I find really dismaying is that the issue of debt relief is never brought to the table at the German, or Dutch, Parliament. The FinMin’s say that they cannot do that, or that rejection is to be taken for granted. Acting this way, they are going far beyond their mandate, actually depriving Parliaments of their right — and duty — to decide on an important theme with far-reaching implications.