Brussels, 09/04/2015 (Agence Europe) - On 9 April, the European Commission said that progress was being made in the talks with Greece. Commission spokesman Margaritas Schinas said: “We are making progress and foresee more of that in the coming days and weeks. The objective is to have a full list (of reforms, Ed.) specified and then agreed with the institutions by the end of April. Next step is the next Eurogroup meeting (24 April, Ed.). Anything that happens before would be greatly welcome.
The comments come the day after a Euro Working Group meeting of experts from the eurozone nations. According to news reports, over dinner, Greece was given a six working day timeline by its peers for unveiling an improved list of reforms to be implemented under the second Greek bailout. A eurozone source said: “There was no ultimatum. It was only pointed out that there are six remaining working days left if there is to be some sort of progress at the Eurogroup in Riga because this Eurogroup would need to be prepared. That is all.”
The Commission refused to comment on liquidity available to the Greek government. The Greek media say that the Greek government told its partners that the state coffers would run out on 24 April, but Eurogroup will require more than words before it will release the remaining financing.
Greek finance minister Yanis Varoufakis said at a conference on Thursday: “As a finance minister ... in order to create the liquidity which is necessary to see these negotiations through hopefully to a sustainable solution, I have to make the same request that we are allowed to issue T-bills over and above a certain limit to create the liquidity necessary to see us through to the end of the month or the next month or June, so as to be able to redeem payments to the former troika -- to the IMF in this case.” Despite rumours of it defaulting, Greece repaid €450 million to the IMF on Thursday.
Reuters says the ECB has raised the emergency liquidity assistance cap by €1.2 billion to `€73.2 billion.
Finnish newspaper Helsinjin Sanomat quotes a Finnish government memo pointing out that Finland should be prepared for Greece to run out of money before the end of June: “That could lead to a situation where by silent approval of the other eurozone countries a process is started which in effect results in Greece being expelled from the euro.” (Elodie Lamer)