By John Hadoulis
Greece says it has made "difficult concessions" in a "realistic" reform plan it has put to its creditors as a critical repayment on its massive debt looms.
"Last night a complete plan was submitted... a realistic plan to take the country out of the crisis," Prime Minister Alexis Tsipras told reporters in Athens on Tuesday (local time).
"We have made concessions, because a negotiation demands concessions, we know these concessions will be difficult," the leader of the country's left-wing Syriza government admitted.
He was speaking as speculation mounted that Athens was about to receive an ultimatum from its creditors after four months of fractious talks.
The chiefs of the International Monetary Fund (IMF) and the European Central Bank met with the leaders of Germany, France and the head of the European Commission on Monday to reportedly come up with a "final proposal" to put to Athens.
European markets, which had slid in early trading Tuesday amid the growing uncertainty, rallied slightly on Tsipras's comments.
"I am confident, I believe the political leadership of Europe will approach our positions with respect and join the side of realism," Tsipras added.
A government source told AFP that a 46-page draft agreement had been submitted, but declined to go into further detail.
The creditors in Europe and the IMF are pushing for greater reforms in return for the cash, which Greece's anti-austerity government has refused to match.
Greece is staring at a Friday deadline to repay more than €300 million (NZ$465.34 million) it owes to the IMF.
Overall it needs to repay the global lender some €1.6 billion this month, funds it currently lacks.
There are fears Greece could default, possibly setting off a chain-reaction that could end with a messy exit from the eurozone.
AFP
source: newshub archive
