Greece prepares for crucial Eurogroup meeting

After a cabinet meeting which lasted more than seven hours on May 10, Greek prime minister Alexis Tsipras reportedly expressed determination for any deal reached with creditors to be within the mandate the Greek government has.

The Greek side wants a positive statement at the end of tomorrow’s eurogroup saying that progress in negotiations has been made, while it also became clear that the two government officials to represent Greece at the crucial meeting tomorrow will be finance minister Yanis Varoufakis and SOE president Giorgios Houliarakis.

On Tuesday, Greece faces having to repay 770 million euro to the International Monetary Fund (IMF). Analysts claim that Athens might be unable to meet its obligations to the IMF without a deal with its creditors that would release more than seven billion euro.

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