According to Finance Minister, Edward Scicluna, the situation in Greece is an issue of balance and the Eurozone countries - including Malta - must decide on the degree of flexibility they are willing to allow in their bid to help Greece out of its current situation.

Minister Scicluna was speaking on Monday 11 May in Brussels, where he attended a Eurogroup meeting that focused mostly on the situation in Greece. Ministers from euro area countries were briefed on the state of play in the ongoing discussions between the Greek authorities and the three institutions - the European Commission, the European Central Bank and the International Monetary Fund - on the list of reforms that the Greek government is expected to complete under the current agreement.

The ministers also discussed, inter alia, the economic situation in the euro area based on the spring 2015 economic forecast by the European Commission, published on 5 May 2015, and exchanged views on inflation and exchange rate developments. They also held a thematic discussion on ensuring strong fiscal frameworks in the euro area Member States.

Minister Scicluna - who is accompanied by the Finance Ministry's Permanent Secretary Alfred Camilleri - later joined his EU counterparts for a meeting of the Economic and Financial Affairs Council (ECOFIN).