Eurozone Ministers: No reform deadline for Greece

Eurozone finance ministers will not set any deadline for Greece to come up with reforms to get more funding because such time limits lead to brinkmanship in negotiations, a senior eurozone official said yesterday.

Greece, which is quickly running out of cash, pledged to its eurozone partners in February that, by the end of April, it would agree with creditors on a comprehensive list of reforms to receive €7.2bn remaining from its bailout.

Eurozone officials had expected the list to be presented to the bloc’s finance ministers this Friday in Riga. This would allow for a faster disbursement of cash to Athens, helping the debt-laden country avoid default on loan repayments on May 12.