Finance Minister of Greece، Yanis Varoufakis says that he expects to reach a deal within the next week with the country’s international creditors.
Greece is approaching bankruptcy at fast pace، and the country is due to make a payment of 1.5 billion Euros to International Monetary Fund (IMF) on 5th June.
Mr. Varoufakis had given an interview to Star TV saying that a deal with creditors “was close” and had denied the country may leave the eurozone، adding “another currency is not on our radar.”
Meanwhile the Greek government، EU and IMF are locked in negotiations over the country’s economic reforms which they say must be implemented before the latest 7.2 billion Euro tranche of the country’s bailout fund is released.
Issues over pension reforms، deregulation of labour market and the re-hiring of 4000 former civil servants are yet to be resolved in the ongoing crisis.
The deadlocked situation has been of growing concern as many believe Greece will soon run out of cash.
Last week، Greek government had retrieved their IMF reserves to pay 750 million Euros in debt interest on existing loans.