Bloomberg: Creditors to present agreement proposal to Greece

With time running out, Greece’s creditors are prepared to present an agreement proposal that will help put an end to the impasse in the negotiations, claimsBloomberg.

The news agency cites the “ultimatum” issued to the Greek side at the recent Euro Working Group, where it was stressed that unless an agreement is reached by early June, then there will not be enough time for Eurozone parliaments to approve any further payments towards Greece.

An unnamed official told Bloomberg that the creditors are discussing an agreement that could be then presented to Greece as a way to overcome the impasse. The same report notes that creditor representatives spent the weekend debating issues related to the Greek review, with European political leaders then presenting to Prime MinisterAlexis Tsiprastheir proposal.

Blombergalso cites government sources, according to which an agreement proposal has been submitted to Greece, which includes measures worth 3.5 billion euros. The report clarifies that this text has been composed by the European Commission and mostly involves tax measures to collect the 3.5 billion euros. The same government sources were also optimistic that a Eurogroup may be called within the week.

Following the meeting of the Greek negotiation team on Saturday, a teleconference took place between PM Alexis Tsipras, German ChancellorAngela Merkeland French PresidentFrancois Hollande. The 35-minute teleconference is said to have been carried out in a positive climate.

Following the teleconference, where everyone agreed that a solution must soon be provided, the German Chancellor and French President have arranged to meet with European Commission PresidentJean-Claude Junckerin Berlin. While there is no official agenda on the Monday afternoon meeting in the German capital, the latest developments regarding Greece are most likely to be discussed.