Is Greece near a deal?

Greece has been in negotiations re the reforms it needs to implement and the last portion of the bailout money it is to receive from the EU.

Sticking points in the talks have ranged from labor market and pension reforms to disputes over the privatization of Greek state assets, although Greece has made some concessions on the latter point.

Greek Prime Minister, Alexis Tsipras, on Monday ruled out further pension cuts, but said a list of proposals for an overhaul of the nation's VAT (sales tax) regime had been sent to lenders and he claimed a deal was imminent.

Speaking at a meeting of the Greek Industrial Federation Monday, Tsipras said Greece had tabled proposals for a "viable deal with creditors" and that the country was "in the final straight for an agreement."

The remarks were echoed by the country's Finance Minister, Yanis Varoufakis, who added that Greece was near a cash-for-reforms deal with its euro zone partners and the International Monetary Fund (IMF) that would help it meet debt repayments next month.

 

"I think we are very close (to a deal) ... let's say in a week," Varoufakis told Greek TV channel, Star TV. "Another currency is not on our radar, not in our thoughts." [meaning Greece is not contemplating switching to the Drachma]

There is still some skepticism around but Greek bonds rebounded on the news. Will Larry be wrong again and the EU survive along with the Euro? Let's remember that Europeans get a lot of benefits from the EU in spite of the meddling of Brussels.