Jack Lew: Greek debt must be rendered sustainable

During a press conference, Lew said that Greece has made significant progress and implemented major reforms, which have revived the confidence of the international creditors to the country.

"I look at the progress estimates and I understand how challenging it was for Greece to reform the pension system, as it is also the case for non-performing loans. It is very important that Greece implements the measures agreed for the Privatization Fund as well as the reforms in the markets and services. These will mark a positive cycle for the economy and the Europeans can start the discussion on the Greek debt soon," he underlined.

Finance Minister Euclid Tsakalotos had earlier said that they both recognised the importance of the May 24 Eurogroup agreement as it was decided that the Greek debt was not sustainable and "now we are discussing the technical details, and not whether a debt relief is needed."

Tsakalotos added: "We also discussed several issues regarding the Greek programme, the difficulties and the opportunities of the Greek economy, the impact of the Brexit and the developments in our neighboring country."

Prime Minister Alexis Tsipras will meet with Lew, at Maximos Mansion, at 2 pm.