The latest round of talks aimed at averting a Greek default have concluded with no resolution or agreements. This morning, discussion between Greece and its creditors did not produce a deal. With the end of the week approaching, the chances of a solid deal between Greece and its creditors seems to be diminishing rapidly. The optimism that was present earlier in the week when Greek Prime Minister Alexis Tsipras presented a number of payment proposals has evaporated. Greece’s creditors carefully scrutinized the proposals and found the Greek government’s effort lacking. The creditors have laid out a series of its own proposals and Greece has apparently all of them.
The Greek Financial Minister Yanis Varoufakis has stated that discussions will continue. He also hinted that today’s meetings were not productive. Eurozone financial ministers will be meeting again on Saturday as the clock continues to tick towards a possible end of the month Greek default. There is some concern developing that creditors will issue an ultimatum of sorts to Greece. In spite of the positive spin bring placed on this situation by the politicians, a very real chance of an ultimatum exists.
With some luck, Saturday’s meetings will produce more positive results. Time really is beginning to run out now.