International creditors hope for a united grand coalition in the Greek government, especially between the Syriza and the New Democracy party, who are going neck to neck in the upcoming September 20 elections.
Greek is heading towards a third round of bailout package when the crisis-hit nation is about to make repayment of euro 3.2billion to the European Central Bank. The third bailout plan for ailing Greece economy is creating tremors in the European Union (EU). German's decision is crucial on Wednesday.
The delayed talks over a third 85 billion euro bailout plan is set to take place on Tuesday. Syriza government led by Prime Minister Alexis Tsipras will hold negotiations with European troika, the tripartite committee led by the European Commission (Eurogroup), European Central Bank (ECB) and International Monetary Fund (IMF).
Greece said it may impose capital controls and keep its banks shut on Monday after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level.
Greek Prime Minister Alexis Tsipras said he was willing to accept unpalatable compromises to secure a deal with international creditors provided he gets debt relief in return, something that Germany refuses to countenance.
Greek Prime Minister Alexis Tsipras on Friday spurned "absurd" terms of proposed aid from lenders and delayed a debt payment to the International Monetary Fund, prolonging an impasse that threatens to push Greece into default and out of the euro zone.
Greece's government is confident of reaching a deal with its creditors this week and is open to pushing back parts of its anti-austerity program to make that happen, the country's interior minister said Saturday.
If fear of Europe-wide financial wildfire was Athens' trump card in its standoff with euro zone creditors - then the card has now turned up a dud.
German Finance Minister Wolfgang Schaeuble said on Saturday he was happy over a report that Greece was poised to sign a gas deal with Russia, though he added it would not solve the cash-strapped euro zone nation's economic problems.
Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers.
Even if it survives the next three months teetering on the brink of bankruptcy, Greece may have blown its best chance of a long-term debt deal by alienating its euro zone partners when it most needed their support.
With incendiary interviews, an undiplomatic demeanor, a celebrity photo shoot and an obscene finger gesture, Yanis Varoufakis is becoming part of Greece's debt problem rather than the solution, or so his euro zone partners believe.
Greece sent its euro zone partners an augmented list of proposed reforms on Friday but EU officials said several more steps were required before any release of aid funds to a country that Prime Minister Alexis Tsipras says has a noose around its neck.
Greece must realize there is no other way than to reform, European Central Bank governing council member Luc Coene said in an interview published on Saturday, telling Greeks they had been sold "false promises" by radical leftists now in power.
Greece's leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year.
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