Neverending Crisis

Greek Reforms Fail to Impress

Greece Corbis
Greece; torn between the drachma and the euro.
  • Why it matters

    Why it matters

    Greece will probably run out of money by mid April, yet its lenders are insisting they will not release bailout funds until the country makes firm commitments to reforms.

  • Facts


    • Greek officials held talks with lenders from the E.U., ECB, and IMF over the weekend.
    • The eurogroup will not meet ahead of Easter to discuss the reforms.
    • Greece has to pay the IMF €450 million on April 9.
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Things may be close to the wire, but for now Greece’s creditors are playing hardball.

Despite rapidly running out of money, Greece cannot hope for any speedy relief to its increasingly precarious financial situation after handing over its latest reform proposals.

The finance ministers of the euro zone, known as the eurogroup, are not expected to meet before Easter to release bailout funds to Athens, according to information obtained by Handelsblatt.

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