2nd June 2015
Greek Prime Minister Alexis Tsipras has made proposals to European creditors in a bid to stave off financial chaos.
The news follows an emergency meeting between German Chancellor Angela Merkel, French President Francois Hollande, European Commission head Jean-Claude Juncker, International Monetary Fund chief Christine Lagarde and ECB president Mario Draghi in Berlin.
The discussions were to try and reach a final proposal to offer the Greek government, but Tspiras was not invited to the crisis meeting.
Greece is due to make a €300m (£215m) debt repayment on Friday, but it is not yet clear whether it will be able to make the payment. Failure to do so may ultimatelylead to its exit from the eurozone.
Tspiras said “We have submitted a realistic plan for Greece to exit the crisis,” adding that the proposals included “concessions that will be difficult”.
Greece is at an impasse with its international creditors over securing the remaining €7.2bn of its bailout funds, the BBC reports.
The IMF, ECB and the European Commission are pushing Greece to make further austerity reforms, but Prime Minister Alexis Tsipras has so far not agreed to the measures.
Writing in a column for Le Monde on Sunday, Tsipras said the deadlock in talks “is due to the insistence of certain institutional actors on submitting absurd proposals and displaying a total indifference to the recent democratic choice of the Greek people.”