Athens--Some are convinced that a deal will be done between Greece and its creditors to unlock vital bailout funds while others are betting that the cash-strapped nation will default and be jettisoned from the eurozone.
As negotiations between Athens and its creditors hurtle to the April 24 deadline, the only thing that is clear is that the Greek government's coffers are emptying out in the meantime.
thens therefore desperately needs a deal with its creditors to unlock 7.2 billion euros ($7.6 billion) -- the last tranche of a 240-billion-euro bailout accorded in 2010. But the lenders are holding out for better reforms from Athens.
Greece's public balance sheet also appears to be in a worse shape than thought, as official data showed Wednesday that the deficit was more than twice as wide as forecasted.
The budget deficit reached 3.5 percent of GDP in 2014, although the government that preceded the radical leftist government elected in January had forecast a deficit of 1.3 percent of GDP, while the European Commission's forecast was 1.6 percent.
The Greek government is expected to put a new list of reforms to its eurozone partners within days as eurozone finance ministers are due to discuss them on April 24.
If no deal is done by then, the country would soon be forced to default on its debt.
The first key date to come up following the eurozone talks is May 6, when about one billion euros is due for repayment to the IMF.
That is a small sum compared to the 9 billion due in July and August, this time to the ECB.
Nevertheless, Prime Minister Alexis Tsipras's government is putting on a brave front.
Finance Minister Yanis Varoufakis insists that "we are ready to make all kinds of compromises, even if we have to pay a political price, but we will not compromise ourselves".
AFP
