Greece Under Pressure for Reforms as Money is Running Out

TSIPRAS_NEA_MAXIMOY_532_355The Greek government is under severe pressure from creditors and rushes to complete the implementation of the first package of measures hoping it will see partial funds released after the April 24 Eurogroup.

On the other side of the fence, creditors say there is not enough time to evaluate the Greek list and disbursement of any funds is not likely to happen after the April 24 Eurogroup.

European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis said there is not enough time for the Eurozone Finance Ministers in April to come to the necessary decisions to release funds for Greece. The next likely date for a Eurogroup decision seems to be May 11 when the next Eurogroup is scheduled.

Meanwhile, snap elections and Grexit scenarios are abound in international media. Analysts say that the progress of negotiations is very slow and Greek funds are about to be depleted. Key European officials demand more measures on which the Greek government has drawn the line, such as pension cuts and mass layoffs.

On Tuesday, Greek Prime Minister Alexis Tsipras met with government Vice President Yiannis Dragasakis, Finance Minister Yanis Varoufakis, Minister of Economy, Infrastructure, Shipping and Tourism Giorgos Stathakis, Alternate Foreign Minister for International Economic Relations Euclides Tsakalotos, Deputy Finance Minister Nadia Valavani and General Secretary of Fiscal Policy Nikos Theocharakis. Tsipras said he will assume responsibility for negotiations because he wants to come to an agreement with partners but he is not willing to back down on pension laws and labor market issues. He also said that snap elections are out of the question at the moment.

The Greek Prime Minister has expressed his discontent over the contradictory statements made by several cabinet and SYRIZA members who said that it is not necessary to come to an agreement with creditors, meaning that they look forward to a rift.