The President of European Parliament Martin Schulz estimated that an agreement will be reached by the end of week in order to provide emergency funding assistance to Greece.
Mr. Schulz told Italian newspaper La Repubblica that the Greek government will have three months to present a credible, detailed and definitive plan of reforms.
When asked whether a truly sustainable agreement can be reached, Mr. Schulz responded that the possibility is “approaching 100%”, explaining that a potential falling out would have catastrophic chain reactions.
Mr. Schulz was also critical of the Greek Finance Minister Yanis Varoufakis, for whom he noted that while he is perhaps a bright economist, he lacks political experience. He urged Mr. Varoufakis to be more patient and diplomatic when expressing himself and to remember that he is representing Greece and not himself.
