Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Greece wants EU/IMF deal but impasse could bring referendum: deputy PM

Published 04/18/2015, 05:43 PM
Updated 04/18/2015, 05:43 PM
© Reuters. Greek Prime Minister Tsipras talks to Deputy Prime Minister Dragasakis during the first meeting of new cabinet post elections in the parliament building in Athens

ATHENS (Reuters) - Greece aims for a deal with its creditors over a reforms package but will not retreat from its red lines, the country's deputy prime minister told the Sunday newspaper To Vima, not ruling out a referendum or early polls if talks reach an impasse.

Athens is stuck in negotiations with its euro zone partners and the International Monetary Fund over economic reforms required by the lenders to unlock remaining bailout aid.

Ongoing talks are not expected to produce a deal for the approval of euro zone finance ministers at their next meeting in Riga on April 24 as progress is painfully slow.

"Our objective is a viable solution inside the euro," Yannis Dragasakis told the paper. "We will not back off from the red lines we have set."

Asked whether the government had thought of calling a referendum or even going to the polls if talks become deadlocked, Dragasakis said this could be a possibility, although the government's goal was to reach an agreement.

"In the back of our minds these are possibilities of finding a way out, if there is a dead end. The aim is (to reach) an agreement."

Greece is quickly running out of cash and in the next few weeks may face a choice of either paying salaries and pensions or paying back loans from the International Monetary Fund.

Shut out of bond markets, Athens could get more loans from both the IMF and euro zone governments, but it would first have to implement reforms, agreed with the creditors, to make its finances sustainable and its economy more competitive.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The leftist-led government does not want to implement measures including cuts in pensions as it won elections in late January on pledges to end austerity.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.