Talks between Greece and “the institutions” which have lent the country money will commence today with Athen’s financial position thought to be increasingly precarious.
With the country yet to have been released any of the €7.2 billion tranche agreed upon in negotiations in February, EU politicians are awaiting more substantive proposals on reforms by the Greeks.
A reported shortfall in the tax receipts for the goverment has left the situation increasingly difficult for the finance ministry.
Reports last night suggested Greece may have to delve into its own social security fund if it is to meet and IMF debt obligation of €1.2 billion due on March 20. Against that backdrop it appears that the Greece government will have to engage in more substantive and constructive negotiations with creditors, a process due to start in earnest later today.