ANKARA
French Finance Minister Michel Sapin has suggested that progress may be made in Greek bailout negotiations after Athens “restored confidence” in the talks process.
Speaking ahead of a critical eurogroup meeting in Brussels on Saturday, Sapin said a green light is needed from the body if new bailout proposals are to receive consideration.
Sapin will speak with Greek Finance Minister Euclid Tsakalotos before the meeting starts.
"The Greek government has shown great determination in achieving a successful vote in parliament. This gives us restored confidence that we can move forward. But we will have to ensure that what is being proposed today will be implemented on the ground," Sapin said.
Arriving after Sapin, German Finance Minister Wolfgang Schauble told reporters: "These are extremely difficult and complex negotiations, and achieving an accord will be very challenging."
Germany, Greece's largest creditor, has been a severe critic of Athens’ bailout proposals. The German government is particularly opposed to debt restructuring, which Greece is now seeking to make this part of the overall accord.
Jeroen Dijsselbloem, head of the eurogroup, also spoke about confidence ahead of the meeting. "We have proposals," he told reporters outside the meeting hall, "but we have to have confidence that they will be implemented properly, according to what is proposed in theory".
Saturday’s meeting will make a definitive decision about whether creditors will go ahead with further consideration of the latest Greek bailout proposals.
The finance ministers from the 19 member states will review expert determinations made by analysts at the International Monetary Fund (IMF), the European Commission and the European Central Bank.
IMF head Christine Lagarde said on arrival in Brussels: “I think we are here to make a lot more progress.” Several ministers, arriving, said they were optimistic.
Ministers are just arriving at the meeting which is expected to last late into Saturday night.
