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A few days before the Eurogroup meeting on 11 May, when Eurozone partners are to discuss releasing a new Greek aid package, negotiations seem to be in deadlock between Greece and its creditors about extra financing needed to avoid a default. Meanwhile, speculations are growing about a Greek exit from the Eurozone.
Athens is questioning “the serious disagreements and contradictions between the IMF and the EU” on the right measures to adopt. The IMF is insisting on reforms to pensions and to the labour market but is open to a discount, whereas the EU has taken the opposite position.
In the meantime, the European Commission has revised down its growth forecast for Greece this year from the 2.5 per cent predicted three months ago to less than 0.5 per cent.
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