Samaras meets Merkel

Greece’s prospects for an exit from the memorandum and for debt relief and whose outcome is likely to have a decisive impact on Greek financial and political future will staple today’s talks between Prime Minister Antonis Samaras and German Chancellor Angela Merkel, in Berlin. Samaras is expected to use today’s meeting as an opportunity to set out a road map for exiting the memorandum and secure a message of political support from the Chancellor that will allow him to proceed with some relief measures against Greek austerity. Lowering the expectations however, Merkel’s spokesman Steffen Seibert noted on Monday that talks on Greece and its economic program “are not bilateral negotiations between Germany and Greece but between Greece and its European partners” and added that “no decisions” were expected from the meeting. Nevertheless, he credited Greece for brightening its prospects saying that, “after a very, very difficult period, there are signs of hope, particularly in the area of economic growth”. The European Central Bank President, Mario Draghi, spoke on a similar tone also, downplaying suggestions by Greek government officials that some of its bailout funding can be raised on the international markets. He noted that Greece’s return to the markets earlier this year was made possible due to the country’s reform efforts but markets will not necessarily continue to favour Greece.

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