Eurozone gives Greece six-day deadline to revise reforms – paper

Eurozone deputy finance ministers gave Athens a six working day deadline to come up with revised reform proposals to enable a deal to be reached at a Eurogroup meeting on April 24 to unlock bailout aid, Greek newspaper Kathimerini reported on Thursday.

The two sides met in Brussels on Wednesday to bridge differences over a reform package that Greece’s creditors have demanded before they release urgently needed bailout funds.

“A deadline of six working days was given to the Greek side to present proposals that can be acceptable by creditors,” the paper said.

Athens has submitted a 26-page reform list but EU/IMF negotiators say it is too optimistic on revenue projections and omits the key issues of pensions and labour markets, which are the most sensitive for Tsipras’ leftist Syriza party.

A eurozone official has said discussions will reach a critical point at the April 24 meeting of the euro zone’s finance ministers in Riga.

On Thursday, Greece’s minister of state Alekos Flabouraris expressed confidence that a deal would be reached by then.

“I believe it (that an agreement will be reached in Riga) 100 percent,” he told Mega TV.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.