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Greece: EU′s Moscovici hails signs of ′genuine progress′ in Greece negotiations5

While talks in Brussels have reportedly yielded progress, EU leaders are emphasizing that more work must be done to reach a deal with Greece. Athens faces two debt repayments of nearly 2 billion euros this month alone.

Progress was being made in managing the Greek debt crisis, with Prime Minister Alexis Tsipras, German Chancellor Angela Merkel and French President Francois Hollande agreeing on a way forward with Greece's budget surplus.

During a telephone conversation on Wednesday evening, the three leaders agreed on the necessity of lower primary surplus targets between Athens and its creditors.

The issue of primary surplus had been a major sticking point between Greece and its creditors, with Athens insisting on keeping lower targets that would allow to honor promises made to voters of increasing public spending.

The EU's commissioner for Economic and Monetary Affairs hailed "genuine progress" in certain aspects of the negotiations over the Greek debt crisis but added that there were still outstanding points to be addressed. Pierre Moscovici said that progress had been made on a "whole series of topics" but specified that pension and labor market reforms in particular would need to be discussed in further detail.

Read more: EU′s Moscovici hails signs of ′genuine progress′ in Greece negotiations | News | DW.DE | 03.06.2015

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