April 7, 2017 / 10:34 AM / 8 months ago

Greece, lenders agree on key elements of reforms: Eurogroup head

VALLETTA (Reuters) - Greece and its euro zone creditors agreed on key elements of reforms needed to unlock new loans, with a total of 2 percent of gross domestic product of measures to be implemented in 2019 and 2020, the head of euro zone finance ministers said on Friday.

A man looks down as a Greek national flag flutters atop one of the bastions of the 17th century fortress of Palamidi under an overcast sky at the southern port city of Nafplio, Greece, February 19. 2017. REUTERS/Alkis Konstantinidis

“We have an agreement on the overarching elements of policy, in terms of size, timings and sequencing of reforms, and on that basis further work will continue in the coming days,” Jeroen Dijsselbloem told a news conference after a meeting of euro zone finance ministers in Malta.

Dijsselbloem said that progress made would allow a mission of negotiators to return to Greece “as soon as possible,” although no date has been fixed yet.

The return of the mission would mean that negotiators are close to reach a technical deal, called a staff level agreement, that would then need a political backing by ministers. Once the political go ahead is given, Greece will get new loans.

Reporting by Francesco Guarascio @fraguarascio

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