EU Commission says progress with Greece but reform talks ongoing

Greece and international lenders made progress over the weekend in talks on the Greek bailout reforms but negotiations are still ongoing, the European Commission said on Monday.

"Progress has been made over the weekend. Talks are continuing in Athens today," a Commission spokeswoman told reporters in Brussels.

The Commission also said that eurozone government lenders, grouped in the eurozone bailout fund, stuck to their demand that Greece must reach a primary surplus of 3.5 percent of gross domestic product in 2018.

The International Monetary Fund, which also lent money to Greece, has suggested a lower primary surplus in 2018 would have been more realistic and could work if the eurozone offered Greece more debt relief.

"Our aim remains to conclude the review as soon as possible," the Commission spokeswoman added.

[Reuters]