Greece pay one of its key lending Thursday, but bilizko to empty coffers, the government can win only short-term relief. With the approach of the Eastern Orthodox holiday weekend, the heads of the new Mr. Alexis Tsipras and Finance Minister Yannis Varoufakis granting long weekend is unlikely. Greece are given 6 working days of the Technical Chamber of the Euro Working group to come up with a reform proposal - which would depend any further financial help - before the key meeting of euro zone finance ministers on April 24 in Riga, Latvia.
Struggling Greek economy still needs financial support. She faced two bills for a total of € 2.4 billion to at least 14 and April 17.
Patience of the finance ministers of the Eurogroup is probably coming to an end after 10 weeks of delays and games shooting HOBT government, any sympathy for the Greek position is long gone, as noted by the team to Economic Survey of Daiwa.
Tsipras just got off the plane after his brief trip to Russia, which seems at least at first glance is also known achieve progress in terms of concrete promises from Russia to help Greece with its situation of bankruptcy due to inability to pay its debts, leaving Eurozone or loss of financial support from creditors.
Economists now increasingly talk about the possibility of "Grexit", considered only a few years ago for quite unlikely. Now the risk of bankruptcy for Greece over its debt payments is 50-50%, according to UBS although analysts are convinced that bankruptcy does not necessarily mean leaving the Eurozone.
The prospects for an agreed outcome to month are close to 40%, according to Gabriel Sterne,
Head of the Directorate for globolno macro study by Oxford Economics.Kontrola on capital - limit the amount of money that can be exported from the country - generally a sign of serious economic catastrophe - are another way to financial pressure, he added.
Christine Lagarde, head of the International Monetary Fund, which together with the European Union is one of the largest Greek creditors, after a series of bailouts, told CNBC on Thursday that Greece leaving the Eurozone would create a "terrible situation" for its citizens.
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