Greece warns eurozone will not have more liquidity until … – Reuters

By Ingrid Melander and Lefteris Papadimas

RIGA (Reuters) – The Finance ministers from the euro zone was introduced to Greece a stern warning on Friday to tell him that his government will not receive more aid until you have a complete plan of economic reforms, while Athens is close to bankruptcy.

After a busy morning of talks with Greek Finance Minister, Yanis Varoufakis, the chairman of the Eurogroup ministers, Jeroen Dijsselbloem, rejected the request for an early release of funds, in exchange for reforms.

Dijsselbloem also said that after June the remaining 7,200 million euros in bailout funds would no longer be available, and that until Athens completed a full interim agreement, Greece’s creditors and not negotiate on longer term financing and debt relief.

” a list of detailed and comprehensive reforms are needed, “said Dijsselbloem in a press conference after a meeting in the Latvian capital, Riga.

“a comprehensive agreement is necessary before it can be any disbursement (…) We are all aware that time is running out.”

The Greek Prime Minister Alexis Tsipras, said after meeting with German Chancellor Angela Merkel on Thursday Brussels that he hoped there would be an agreement by the end of this month.

But Dijsselbloem said finance ministers return to review the process only May 11-a day before Greece must make a payment of 750 million euros to the International Monetary Fund.

President of the European Central Bank, Mario Draghi said the ECB would continue to provide emergency loans to Greek banks provided these should remain solvent, but warned that the rise in yields on Greek bonds was lowering the value of the collateral that the bank has to raise funds. Continued …