As meetings between Greece and its creditors drag on, media reports say that the IMF has refused some of Greece’s refused proposals. Greek Prime Minister Alexis Tsipras said on his Twitter (TWTR) account that ‘the repeated rejection of equivalent measures by certain institutions never occurred before – neither in Ireland nor Portugal.’ The latest setback is ‘very significant,’ according to Markus Will, an economics professor at the University of St. Gallen. ‘The deadline is too tight for any further new proposal,’ he added. Throughout the past week, at various times there appears to have been both progress – and roadblocks – in the ongoing conversations between Greece and European leaders. Talks continue today as next week’s June 30th repayment deadline approaches. ‘I think the likelihood of a deal is still there,’ said Will. ‘It’s probably even higher than 50%, but it’s certainly not 100%.’ But Will pointed out another big issue, even if an agreement is hammered out, is getting Greek lawmakers to approve it. ‘If the austerity program is tight, Mr. Tsipras will have problems getting that through his parliament, because he was elected with the promise to end the suffering situation of the Greek population.’
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