Schauble warns of 'sudden' Greek defaultBerlin, 10 May 2015 (MIA) - German Finance Minister Wolfgang Schauble has said Greece may face a sudden default.
Without an agreement on the implementation of the reforms by Monday, Greece won’t get the outstanding relief funds of €7.2 billion.
“I don’t see that everything will be solved by then,” Schauble said in an interview with the Sunday edition of the Frankfurter Allgemeine Zeitung.
He doubted that the Greek government even knew what exactly was going on in its finances.
“Such processes also have irrational elements. Experiences elsewhere in the world have shown that a country can suddenly slide into insolvency", said Schauble. ik/10:26
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Greece, creditors 'very close' to a deal: minister
Athens, 10 May 2015 (MIA) - Greece and its international creditors were "very close" to a loan deal for the cash-strapped country, a Greek junior minister said Sunday, a day ahead of a key meeting in Brussels, AFP reports.
"After weeks of painful negotiation, if the other side is willing, it will become apparent that... the deal is very close and will be sealed in the coming period," Euclid Tsakalotos, one of Greece's main negotiators, told Avgi daily.
Tsakalotos, a junior foreign minister, said Athens and its creditors were "politically apart" on labour and pension issues and that some areas "will remain open until the last minute."
At a meeting of eurozone finance ministers on Monday, Greece is hoping for a "positive statement" on negotiations that will allow for a section of 7.2 billion euros ($8.1 billion) in remaining bailout loans to be released, officials have said.
However, European officials have played down the likelihood of a deal actually emerging on Monday.
"We have made progress, but we are not very close to an agreement," Eurogroup chair Jeroen Dijsselbloem told Italy's Corriere della Sera daily.
"It will surely not be reached at the Eurogroup meeting on Monday," he said.
Greece has been squeezing funds from the central and local governments to be able to meet its international loan payments, with concerns that within a matter of weeks it could default and face a messy exit from the euro.
But a loan repayment of 750 million euros due on Tuesday to the IMF will be honoured, according to sources in Athens.
A poll in Real News daily on Sunday showed 71.9 per cent of Greeks favoured a compromise to keep the country in the eurozone.
And if the question was put to a referendum, as the government has indicated it may do, 49.2 per cent said they would accept further salary and pension cuts if it meant keeping the euro.
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