Azernews.Az

By Bloomberg

Chancellor Angela Merkel said a deal with Greece is still possible provided the Greek government follows through on the economic-reform pledges made to creditors.

Merkel offered no concessions to Greece in her speech to lower-house lawmakers in Berlin on Thursday. Reading from the agreement signed by Prime Minister Alexis Tsipras’s government and euro-area creditors on Feb. 20, she said that Greece had committed to “comprehensive structural reform,” much of which remained to be carried out.

“Over the last five years Greece has received unprecedented solidarity,” the chancellor said. “The basic principle still applies: help in return for reforms.”

Merkel’s speech comes as Greece’s fate hangs in the balance. Euro-area finance ministers are converging on Luxembourg later on Thursday in attempt to bridge the divide over aid less than two weeks before Greece’s bailout expires.

Merkel said that she would leave finance ministers to work on the detail of any deal to resolve the standoff. Still, she made the point that efforts by fellow aid recipients Ireland, Portugal, Spain and Cyprus had led to them “standing on their own two feet.”

“These countries took their chance,” while in Greece “unfortunately some necessary strauctural reforms have been repeatedly put off,” she said.

“Germany’s efforts are directed at keeping Greece in the euro,” Merkel said. “I remain firmly convinced that where there’s a will there’s a way.”