France Sees Basis for Dialogue with Greece

        By William Horobin
        PARIS--French Finance Minister Michel Sapin said Monday there is still a basis for talks with Greece after the "no" vote in the Greek referendum, and urged the Greek government to make proposals so that negotiations can restart.
        If Greece makes serious, solid proposals and European countries offer concessions--including finding ways to lighten the country's debt burden--there is a basis for discussions, Mr. Sapin said on French radio RTL.
        "It's up to the Greek government, the Greek Prime Minister Alexis Tsipras to make proposals as quickly as possible," Mr. Sapin said on French radio Europe 1. "The basis for dialogue is on the table but it is up to Greece to show it takes that seriously."
        The French finance minister's comments come ahead of an emergency meeting between German Chancellor Angela Merkel and French President Francois Hollande in Paris on Monday after Greeks voted "no" to the terms of a bailout.
        Mr. Sapin said building consensus between France and Germany on how to react is absolutely necessary to find a solution.
        "No solution can be found if there is not a deep, truthful conversation between Ms. Merkel and Mr. Hollande," Mr. Sapin said.
        The French finance minister also said Greek banks would face enormous difficulties in coming days. But he said the European Central Bank would help to preserve stability.
        "The ECB will do what is necessary, completely independently," Mr. Sapin said. "There is a level of liquidity today that cannot be reduced."
        Write to William Horobin at william.horobin@wsj.com
        (END) Dow Jones Newswires

        July 06, 2015 03:17 ET (07:17 GMT)

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