National Bank of Greece ADR (fka NBGGY)

[rocco2]

Greece sees reforms deal with lenders in next 10 days

Fri May 22, 2015 5:10am EDT


Greece expects to reach a cash-for-reforms deal with its creditors in the next 10 days and aims to meet all its payments in June, the government's spokesman said on Friday, after the prime minister met with EU leaders.

German Chancellor Angela Merkel and French President Francois Hollande held talks on the sidelines of an EU summit in Riga late on Thursday with Prime Minister Alexis Tsipras, hoping to speed the resolution of Athens' debt crisis.

"We think conditions have matured for (talks) to progress further and in the next 10 days, in May, for the deal to be sealed," government spokesman Gabriel Sakellaridis told Skai TV.

Since its election, Tsipras's leftist-led government has held four months of talks with the EU and the International Monetary Fund, seeking a deal that could release up to 7.2 billion euros ($8.1 billion) in remaining aid. But talks have stumbled over pensions, labor reform, fiscal targets and increases in value-added tax.

Shut out of bond markets and with remaining bailout aid locked, Athens faces debt repayments to the IMF totaling 1.5 billion euros next month, apart from paying civil servants and pensioners. The first installment falls due on June 5.

http://www.reuters.com/article/2015/05/22/us-eurozone-greece-talks-idUSKBN0O70DK20150522


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