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Greece hoping for a 'happy ending'

Friday, May 08, 2015 - 01:25

Greece's PM hopes a deal to access emergency funding will soon be reached - others aren't so optimistic. Kirsty Basset reports.

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Talks between Greece and its creditors are reportedly making progress. Athens is negotiating reforms in order to access emergency bailout funds. Greek Prime Minister Alexis Tsipras is optimistic a deal will soon be reached. (SOUNDBITE) (Greek) GREEK PRIME MINISTER, ALEXIS TSIPRAS, SAYING: "We will soon have a happy ending and despite the difficulties we face, with the support of the people, we will carry out the agreement which will be concluded soon in Europe." Greece has a 750,000 euro debt payment to meet on Tuesday and it needs 2.5 billion euros for pensions and salaries at the end of the month. One of the sticking points is cutting pensions - Greece says it's a red line which it won't cross. Dominic Johnson is CEO of Somerset Capital Management. (SOUNDBITE) (English) DOMINIC JOHNSON, CEO, SOMERSET CAPITAL MANAGEMENT: "They may win the diplomatic battle but the long term battle to revive the economy they are not going to win and ultimately that is deadly for them." Euro zone finance ministers will meet on Monday. But confidence between Athens and its euro zone partners is at a low point. German Finance Minister Wolfgang Schaeuble. (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE, SAYING: "One shouldn't assume any kind of spectacular results, that it is not within the realm of possibility." Negotiations are set to continue over the weekend.

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Greece hoping for a 'happy ending'

Friday, May 08, 2015 - 01:25