New ‘double’ U.S. intervention in favor of Greece: What does it mean?

Just three days before the critical Eurogroup meeting on Monday.

The United States interest for the developments in Greece was confirmed once again on Friday afternoon, just three days before the critical Eurogroup meeting on Monday.

U.S. Treasury Secretary Jack Lew telephoned Prime Minister Alexis Tsipras to express support for Greece in its talks with its European partners and the hope that a mutually acceptable programme would be found, that would ensure the country’s exit from the crisis.

Moreover, Lew expressed his country’s satisfaction over the talks being held in Brussels on a technical and an economic level and underlined that a solution for the Greek debt issue would benefit greatly fiscal stability in Europe.

On his part, Prime Minister Alexis Tsipras reiterated Greece’s position that an agreement with the country’s creditors could only be reached through a program that would end austerity after five years of unprecedented and brutal adjustment and put emphasis on necessary reforms, on dealing with the humanitarian crisis and on the reconstruction of the Greek economy.

However, this was not the only intervention in favor of  Greece on behalf of the United States yesterday. According to a Reuters report, Caroline Atkinson, Deputy Assistant to President Obama and his Advisor for International Economics, also stated on Friday that European governments should compromise further on a deal to keep Greece in the euro zone.

“It is important for creditors to take into account the fact that Greece has had a very sharp drop in incomes, real wages and output as well as a big rise in unemployment,” the Advisor underlined.

However, Atkinson also stressed that it was important that the new Greek government presented a credible plan for more reform.