After a whistle-stop tour of key-EU capitals, and a few hostile encounters with ECB and EU officials - the Syriza-led Greek government will meet with all 19 euro area finance ministers tomorrow.
List of demands
The Greek daily newspaper Kathimerini reports that Greek Finance Minister Yanis Varoufakis will present a five point proposal, including:
- A 'bridge agreement' (a loan to finance the state until the summer) to allow the country to negotiate a wider deal by September.
- A commitment to implamenting 70 percent of current reform programmes.
- The halving of the country's primary surplus target to 1.5 percent.
- The initiation of a negotiation process that will lead to debt relief (probably through a debt swap).
- The immediate implementation of modest social programmes in Greece - like subsidised meals for struggling families.
A commitment to carrying out 70 percent of the planned structural reforms is far from walking away from the programme - and the promise to run a primary surplus (tax revenues being more than spending if you ignore interest on outstanding debt) should make the plan more palatable to some euro zone countries.
This is a step back from the rhetoric used by Greek prime minister Alexis Tsipras in his address on Sunday night - but it is still set to meet stern-opposition from euro zone leaders.
Germany’s finance minister, Wolfgang Schauble said yesterday that there will be no bridging agreement.
He reiterated his stance that Greece must stick rigidly to the existing agreement - concluding: "If they want to deal with us, they need a programme."
Greek Defense Minister, Panos Kammenos told Greek TV that the country will look elsewhere for funding if the euro zone will not renegotiate the current debt agreement.