A senior German official said on Tuesday there was no reason to believe Greece would be in default after a 300 million euro payment to the IMF falls due on June 5.
Alexis Tsipras
Finance ministers from the world's largest developed economies meet in Germany this week against a backdrop of faltering global growth, scant inflationary pressures and a bond market in turmoil.
Greece expects to reach a cash-for-reforms deal with its creditors in the next 10 days and aims to meet all its payments in June, the government's spokesman said on Friday, after the prime minister met with EU leaders.
German politicians kept up the pressure on Greece over the weekend to implement reforms, with Economy Minister Sigmar Gabriel warning Athens in an interview that a third aid package would not be on the cards unless the Greeks made some changes.
Greek Prime Minister Alexis Tsipras forecast a happy end soon to fraught negotiations with creditors on a cash-for-reform deal, and the chairman of euro zone finance ministers said talks were making progress, though not enough for a deal next Monday.
European Commission President Jean-Claude Juncker said on Thursday he would not raise the possibility of Greece leaving the euro zone, in part at least due to the effect that would have on financial markets.
Greece intends to meet debt payments this month and reach a deal with its international lenders to unlock remaining bailout aid, but the International Monetary Fund insists on tough labor reforms, the country's labor minister said on Monday.
Negotiations between Greece and its international lenders over reforms to unlock remaining bailout aid have made headway and an agreement could be closer this month, a government official said on Sunday.
Always top of the data pile, this week will be no exception for the U.S. jobs report with a first interest rate rise likely this year despite a dramatic slowdown in the first quarter.
Euro zone officials sought to wring policy concessions from Greece on Wednesday to unlock urgently needed aid after Athens said it would present a list of reforms for legislation to show it is serious about implementing its promises.
The head of the Eurogroup said on Tuesday that a recent shakeup of Greek Prime Minister Alexis Tsipras' negotiating team would not by itself resolve the impasse between Greece and its creditors, and Athens would need new loans to stay afloat.
The euro hovered near a three-week peak on Tuesday, boosted by renewed hopes that cash-strapped Greece could secure extra funding and as the dollar remained weak ahead of a U.S. Federal Reserve meeting that starts later in the day.
Asian stocks pulled back from a seven-year peak scaled on Tuesday as sentiment gave way to caution ahead of the Federal Reserve's policy two-day meeting scheduled to start later in the session.
Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move widely seen as an effort to sideline embattled Finance Minister Yanis Varoufakis to a less active role in negotiations.
Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a phone conversation on Sunday to maintain contact during talks between Athens and its lenders to reach a debt deal, a Greek government official said.
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