Both Greek and European officials appear to be pessimistic of an agreement between the two sides at the Eurogroup session that will take place in Luxembourg.
Upon arriving to the Eurogroup, Commissioner Pierre Moscovici told journalists that while the discussion would be difficult, there was some possibility of an agreement being reached, provided there is the necessary political will. Mr. Moscovici added that the ball remains in the Greek court.
IMF director Christine Lagarde stressed that there was no “grace period” or delays for the loan payments that are due on the 30th of June and that Greece would default on the 1st of July if it misses the payment. She urged Greek authorities to reform the country’s pension system and noted that the IMF will continue to participate in the talks with Greece.
The Belgian Minister of Finances Johan Van Overtveldt commented that everything depends on the Greek side, adding that if the proposals submitted are reasonable, they will be discussed. The Greek Finance Minister Yanis Varoufakis had previously stated that he will not submit new proposals.
The Spanish Minister of Finances Luis de Guindos was amongst the first to arrive at the Eurogroup, but he refused to comment.
