Italy’s Economy Minister Pier Carlo Padoan said on Monday that there were no discussions taking place among European policymakers regarding an alternative plan for Greece, if talks with donors failed, and urged Greek authorities to hasten with reform proposals to reach a deal with creditors to access much needed funding.
After the Eurogroup meeting in the Latvian capital Riga on Friday speculation has been rife that euro area finance ministers considered a scenario in which, talks among Greece and its donors failed and the country was forced to exit Eurozone.
Padoan dismissed such talk, saying “there is no Plan B for Greece”.
The Greek government is expected to present revised proposals on May 11. A loan repayment of nearly EUR 1 billion to the International Monetary Fund is due on May 12, even as the government is under immense pressure to raise funds to meet its pension and wage obligations.
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