Greeks awoke on
Friday hoping their government would finally seal a cash-for-reforms
deal with its international creditors after Prime Minister Alexis
Tsipras offered last-minute concessions to try to save the country from
bankruptcy.
The
Greek parliament will vote on whether to throw its weight behind the new
proposals and two senior figures from the ruling Syriza party sounded
an optimistic note on Friday morning on securing the lawmakers' backing.
The creditors have not commented on the merits of the latest Greek offer, which included plans for more tax hikes and pension reforms. The lenders' backing is crucial for euro zone leaders to support the proposals at a summit on Sunday.
Before that, finance ministers of the 19-nation euro area will meet on Saturday to decide whether to recommend opening negotiations on a third bailout program for Athens despite widespread exasperation at the five-year-old Greek debt crisis.
European markets rallied on the improved prospects for a last-ditch deal to keep Greece in the currency area, with Eurostoxx futures up 1.7 percent.
Greece asked for 53.5 billion euros ($59 billion) to help cover its debts until 2018, a review of primary surplus targets in the light of the sharp deterioration of its economy, and a "reprofiling" the country's long-term debt.
But the plan could cause trouble for Tsipras at home, from hardliners in his own party as well as his junior coalition ally. Any new deal would also have to be endorsed by national parliaments including in Germany, where attitudes toward giving Greece more money have hardened.
Tsipras has called a snap vote in parliament on Friday asking for its backing to negotiate a list of "prior actions" -- measures his government would take to convince creditors of its intent for an aid deal, and to secure the first disbursement.
Asked if there would be a deal, Syriza's parliamentary spokesman Nikos Filis told journalists: "Certainly. Today we are speaking in parliament."
The creditors have not commented on the merits of the latest Greek offer, which included plans for more tax hikes and pension reforms. The lenders' backing is crucial for euro zone leaders to support the proposals at a summit on Sunday.
Before that, finance ministers of the 19-nation euro area will meet on Saturday to decide whether to recommend opening negotiations on a third bailout program for Athens despite widespread exasperation at the five-year-old Greek debt crisis.
European markets rallied on the improved prospects for a last-ditch deal to keep Greece in the currency area, with Eurostoxx futures up 1.7 percent.
Greece asked for 53.5 billion euros ($59 billion) to help cover its debts until 2018, a review of primary surplus targets in the light of the sharp deterioration of its economy, and a "reprofiling" the country's long-term debt.
But the plan could cause trouble for Tsipras at home, from hardliners in his own party as well as his junior coalition ally. Any new deal would also have to be endorsed by national parliaments including in Germany, where attitudes toward giving Greece more money have hardened.
Tsipras has called a snap vote in parliament on Friday asking for its backing to negotiate a list of "prior actions" -- measures his government would take to convince creditors of its intent for an aid deal, and to secure the first disbursement.
Asked if there would be a deal, Syriza's parliamentary spokesman Nikos Filis told journalists: "Certainly. Today we are speaking in parliament."
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