Greek Prime Minister Alexis Tsipras has made a trip to Brussels to hold important talks with the country’s international creditors over a new proposal Athens has made in a bid to reach a debt deal with the creditors.
Tsipras is scheduled to meet the leaders of the troika of Greece’s international lenders – European Commission President Jean-Claude Juncker, President of the European Central Bank (ECB) Mario Draghi, and International Monetary Fund (IMF) Managing Director Christine Lagarde – on Wednesday afternoon.
A meeting of the finance ministers of the 19-member eurozone, known as the Eurogroup, will also be held on the same day. It is aimed at preparing an agreement on the Greek debt crisis, which would be examined by EU leaders on Thursday.
On Monday, Athens presented a new proposal to its lenders in a bid to unlock the last portion of bailout funds and to avoid defaulting on its huge debt at the end of June.
Greece received two bailout packages in 2010 and 2012 worth a total of €240 billion ($272 billion) from its creditors following its 2009 economic crisis, in return for implementing harsh austerity measures.
According to the terms of the bailout deal, Greece should make a €1.6-billion ($1.79 billion) payment to the IMF at the end of this month.
There are concerns that Greece may go bankrupt and have to leave the eurozone if a deal is not clinched by the end of June.
MSM/HJL/GHN