There are differences over the borrowing targets for the government finances, how to meet them – especially on pension cuts and value added tax increases – and whether Greece should receive debt relief.
So what position might a Greek negotiator be taking? And what are the pluses and minuses?
Option 1 is to hold out for a while to see what they can get but they are desperate for a deal and accept that they will give in to the demands of the creditors if that is what it takes to get them to sign on the dotted line.
Option 2 is no surrender – utter determination not to give in and a conviction that the other side will buckle at the last moment.
Option 3 is no surrender, but with the acceptance that the other side might also dig their heels in. That would mean default on the debt payments coming due, perhaps the one owed to the IMF at the end of the month or to the ECB in July.
Read the full article at the BBC
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Alfonso Esparza
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