After dark, the light came, but the outcome of the negotiations between Greece and international creditors is still far from certain. The German chancellor Angela Merkel urged Greece to accept the "extraordinarily generous" offer made by the EU, the ECB and the IMF, namely a 5-month extension to the aid programme, worth 15,5 billion euros, in exchange for a package of measures and reforms to be approved by the weekend.
A proposal which, however, does not appear equally generous in the eyes of the Greek premier Alexis Tsipras, who has assured that he will continue to refuse "blackmail and ultimatums" from creditors.
In the general uncertainty, the markets reacted positively to the new possibility of extending the bailout programme, but the optimism of the financial markets is not shared by the German finance minister: according to Wolfgang Schaeuble, at this point the chances of being able to close an agreement with Greece "are approximately 50 percent".
The Eurogroup will meet again tomorrow to seek a compromise. “It will be a crucial day not only for Greece but for the euro area as a whole – commented the president of the European Commission, Jean-Claude Juncker –. I'm quite optimistic, but not entirely."
By June 30, Athens must repay 1,6 billion euros to the International Monetary Fund. If by then an agreement has not been found that guarantees liquidity to the Greek coffers, bankruptcy will be inevitable and immediate.
