Set against tomorrow's new tripartite Tsipras-Hollande-Merkel meeting in Brussels, an unnamed government source sent the message that "all sides will work hard on finding a mutually acceptable solution."
Prime Minister Tsipras aims to pave the way to a 'political agreement' which will include as few issues as possible. Tsipras aspire to return from Brussels with an agreement that will open the floodgates of money for Greece, just before the dry-bulk market crashes completely.
Meanwhile Minister of State Nikos Pappas and Deputy Foreign Minister for International Economic Affairs Euclid Tsakalotos traveled to Brussels yesterday in the hope of building rapport between Athens and its creditors before Prime Minister Alexis Tsipras meets German Chancellor Angela Merkel and French President Francois Hollande in Belgium on Wednesday (June 10).
Chancellor Merkel said on Monday amid a G7 summit in Bavaria she wanted Greece to stay in the euro zone, yet time was running out. She said she hoped that more progress will be made during the meeting with Greek Prime Minister Alexis Tsipras and French President Francois Hollande.
“It must be said that there isn’t much time left. That’s the problem and that’s why everyone must work intensively,” Merkel said.
“The day after tomorrow there will be the opportunity to discuss it with the Greek prime minister in Brussels at the EU-Latin America summit. But all I can say is that every day counts now to get the necessary work done.”
Moreover Greek Prime Minister Alexis Tsipras will also have meetings with European Commission President Jean-Claude Juncker and the head of the Eurogroup Jeroen Dijsselbloem.
Key sticking points Between Greece and her creditors remain in areas such as budget targets, sales-tax rates, pension and labor market rules.
According to Wall Street Journal Greece’s international creditors have suggested extending the country’s bailout program until March, an offer aimed at breaking a monthslong stalemate.
French President Francois Hollande said after a G7 meeting that Greece and its international lenders must speed up talks to reach a deal before an end-June deadline to avoid doubts and speculation about Greece's future in the euro zone.
"There is an end-June deadline," Hollande told a news conference, referring to the end of a bailout program for Greece and repayment deadlines to the IMF, Reuters reports.