Officials from the Greek Government have confirmed that the country has made today's €200m repayment to the IMF - the country is due to pay another €750m on Tuesday, May 12th.

A Greek finance ministry official spoke to Associated Press and said that the “payment is proceeding normally.”

Telegraph

Greek finance minister Yanis Varoufakis previously pointed to the Eurogroup meeting on April 24th as the key date that Greece needed to reach an agreement by to make the May repayments - it is unclear now much longer Greece can support itself without receiving additional funds.

Fresh data from Germany shows that the majority of German executives now believe that the eurozone would be better off without Greece - 44 percent say that the country should choose to leave, while a further 13 percent believe the Greeks should be thrown out.

79 percent of the respondents said that they did not believe that there would be a contagion effect if Greece left.

The Greek government is warning that divisions between the IMF and EU are making the debt negotiation process more difficult.

While the IMF is staying tough on labour market reforms and pensions policy - the EU is focusing on installing tight fiscal requirements.

Adding the issues that the Syriza government has labelled as red lines, the country is left with very little room to negotiate.

European Commission's Spring 2015 Economic Forecast was published yesterday and it downgraded its forecast for the Greek economy, it originally projected that its debt would fall from 176.2 percent of GDP to 170.2 percent this year - it now thinks that it will rise to 180.2 percent.