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No White Smoke for Greece in Talks with Creditors, New Proposals to Table at Eurogroup

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Greek Prime Minister Alexis Tsipras completed yet another fruitless meeting  with the chiefs of the troika of lenders under tremendous pressure to seal an agreement before facing other European Union leaders at a summit later on Thursday in Brussels.

There is a feasibility blueprint that will be tabled at the meeting of Eurozone finance ministers at 2:30 on Thursday. The feasibility blueprint is a plan drafted by technical experts from both sides who were scrutinizing Greece’s latest offer of far-reaching reforms in exchange for much-needed debt relief.

The Greek prime minister tabled certain concessions while remaining firm on some issues such as pension laws and value added tax in Aegean islands.

Tsipras is also under a lot of pressure from Greece as his voters see him as backing down to his promises and ready to sign another austerity deal that will push the country further into recession and add more hardship to the already suffering citizens.

At the same time, technical experts were scrutinizing Greece’s latest offer of far-reaching reforms in exchange for much-needed debt relief.

“We are at a critical moment,” Greek Labor Minister Panos Skourletis said on ANT1 television.

“The effort to restore exhausting measures shows that blackmail and pressure against Greece is culminating,” SYRIZA party parliamentary spokesman Nikos Filis said on Mega television.

Greece has a 1.6 billion-euro repayment due to the International Monetary Fund on Tuesday which it cannot afford unless creditors unlock the last tranche of 7.2 billion euros in bailout money.

See here the list of measures proposed by lenders. (pdf)

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