Dijsselbloem to Greece: Reforms for cash

Jeroen Dijsselbloem, who leads the Greek talks as chairman of the Eurozone finance ministers’ group, told the Financial Times that he was prepared to make a “first disbursement” of the €7.2bn remaining in Athens’ €172bn bailout as early as this month.

“My message to the Greeks is: try to start the programme even before the whole renegotiation is finished…There are elements that you can start doing today. If you do that, then somewhere in March, maybe there can be a first disbursement. But that would require progress and not just intentions,” Dijsselbloem said.

Dijsselbloem’s remarks signal the mounting concern in Eurozone capitals over the risk that Athens is quickly running out of money to pay its debts and keep the government running despite last week’s agreement to extend its EU bailout for another four months.

“If we spent two months talking to each other and not doing anything, at the end of April there are major problems,” Dijsselbloem added.

Despite his offer, officials involved in talks said there were few signs Athens was willing to accept such terms, Financial Times reported.

source: Financial Times