Default crisis: Europe pressures Greece over debt talks

RIGA: European ministers heaped pressure on Greece to speed up negotiations to unblock critically needed bailout funds and avert a dangerous default, showing frustration after months of bogged down talks. The eurozone’s 19 finance ministers ended a meeting in Riga without a breakthrough to unlock €7.2 billion ($7.8 billion) in bailout cash, with the threat of a messy exit by Greece from the euro still hanging in the balance. “It was a very critical discussion,” said Eurogroup Chairman Jeroen Dijsselbloem after the talks ended, with eurozone ministers angry at the lack of progress as a hefty payment of €200 million to the IMF stands due on May 1. “There remain big, big problems to be solved for Greece,” he said.

Published in The Express Tribune, April 26^th, 2015.

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