Will Greek Deal be Reached?

• 05.07.2015, 17:59
•  Europe,  World

The present situation with Greece is getting harder and more obscure, as everyone is waiting for the country to stay out of money. While the country manages to both pay its external debts and pay for wages and pensions, it has not received any money since August 2014 and the creditors refuse to pay the remaining €7.2bn bailout money, demanding more reforms.

Still the government led by the leftist Syriza party of Prime Minister Alexis Tsipras, refuses to "violate its anti-austerity mandate". Left-wing Syriza government has paid 200 million euros back to the IMF, but has also reversed a number of reforms demanded by its international creditors, including rehiring of about 13,000 civil servants, etc.

Athens must repay 970 million euros to the International Monetary Fund (IMF) by May 12. In this regard the EU Finance Commissioner said, that "the Commission is working step-by-step"insisting that Greece should reach agreement about economic reforms first.  "I hope that by the next Eurogroup meeting on May 11^th we will be able to say "Yes, there has been progress, strong progress, and we are on the right track", Commissioner told Euronews.

Together with the Athens, Italy hopes the Eurogroup will reach an agreement on May 11, when according to the International Monetary fund, European Commission and European Central bank some progress will be reached. This was announced by the financial ministers of the two countries after their meeting in Rome.

At the same time head of the Commission Jean-Claude Juncker and Greece PM Alexis Tsipras yesterday announced about some progress reached earlier in negotiations among Greece and its partners. These positive steps concern the overall package of reforms that would help positive evaluation of the reform processes in future.

Having said this, it may be concluded that the deal about Greece is about to be reached, be it in May or further this summer. A compromise is visible. But another plausible thing is that Syriza actually does its best to get along with both the in International community and the Troika and it’s own population.