According to European Commissioner for Financial Affairs Pierre Moscovici there has been significant progress in the negotiations between Greece and its creditors, however there a great distance still remains regarding labor market and pension system reforms.
Mr. Moscovici also urged both sides to expedite and increase their negotiation efforts, in order to come to an agreement over the next few weeks.
Regarding comments by Greek officials, who have stated that an agreement must be reached by the 5th of June, the European Commissioner underlined that he was aware of the liquidity problems in Greece, but avoided further elaborating on a time frame for an agreement.
