Dijsselbloem: Decisions for new aid will come after the summer

The international creditors of Greece will decide after the summer about the possibility of new aid, which will include the proposal for the extension of loans, Dutch Finance Minister and Eurogroup chairman Jeroen Dijsselbloem told Bloomberg agency as he traveled to Cyprus.

“After the summer we will review everything,” he said. If Greece fulfills the requirements set by its international creditors, including a primary budget surplus, and debt sustainability remains a problem, “we are prepared to do more,” he said.

“What is more? A number of examples have been given, including longer maturities or a further reduction of the interest rate,” he added. “But it also depends on how economic growth will evolve.”

Dijsselbloem said he’s hopeful that euro-area finance ministers will reach a positive decision on the disbursement of the next tranche to Greece at a meeting in Athens on April 1st. “A bit more than 8 billion euros is now foreseen,” Dijsselbloem said. “I don’t know yet. The troika will also advise on the amount needed.”

Dijsselbloem said Greece’s return to the markets is a wise decision. “But one must also be able to manage expectations,” he said. “So it starts carefully. Portugal is doing the same, slowly. Ireland as well. Slowly you issue bonds. First short term and then gradually longer term,” he said. “I think it’s good they start this year.”