Deutsche Welle on Hardouvelis-Schaeuble meeting

The "new relationship" between Greece and its creditors, which will be effective after the completion of the current loan programme, the progress of the reforms and the course of the Greek economy were among the issues discussed during the meeting of Greek Finance Minister Gikas Hardouvelis with his German counterpart Wolfgang Schaeuble on Wednesday,29/10/2014, evening in Berlin, according to a report published on the website of the Greek service of Deutsche Welle.

"A mutually acceptable solution needs to be found, that is to delineate this relationship," Hardouvelis was quoted as saying.

According to the report, Hardouvelis said that the evaluation of the troika was not discussed during the meeting, adding that the Greek Finance Minister's impression was that the two officials broadly agreed in essence that any solution must be found within a European context. However, it is a "long discussion" that is expected to be held with all partners and which, as he hopes, will be completed in December.

The challenge for the Greek government, the report noted, is that Germans and the other partners approach the Greek positions and accept the preventive support line as a solution framework. Generally, the report said, the Greek Finance minister has the impression that the plan of the Greek government is becoming increasingly accepted by the partners.

A third programme for Greece was probably not discussed in the meeting between Schaeuble and Hardouvelis. In contrast, the "Greek Finance Minister presented the government's first draft regarding the preventive support line which, in its final form, should be agreed with the partners. With this preventive support line and the expected economic growth in the coming years, Greece will be able to return to the financial markets as its rating will improve and spreads will therefore be reduced," the Greek service Deutsche Welle reported.

According to the report, the preventive support line will disengage Greece, at least formally, by the troika's supervision in the implementation of the reform programme.