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Greek and German leaders meet amid cash shortage fears Greek and German leaders meet amid cash shortage fears
(about 1 hour later)
Greek Prime Minister Alexis Tsipras is due to meet German Chancellor Angela Merkel amid mounting concern that Athens is running out of money.Greek Prime Minister Alexis Tsipras is due to meet German Chancellor Angela Merkel amid mounting concern that Athens is running out of money.
The two countries have been at odds over Greece's efforts to renegotiate the terms of its international bailout.The two countries have been at odds over Greece's efforts to renegotiate the terms of its international bailout.
It follows a pledge from the European Union (EU) to provide €2bn (£1.45bn) to Greece to ease what it called the country's "humanitarian crisis".It follows a pledge from the European Union (EU) to provide €2bn (£1.45bn) to Greece to ease what it called the country's "humanitarian crisis".
But Mrs Merkel said on Friday there would be no new money without reforms.But Mrs Merkel said on Friday there would be no new money without reforms.
European Commission President Jean-Claude Juncker said the €2bn fund would be spent on growth and "social cohesion" in Greece.European Commission President Jean-Claude Juncker said the €2bn fund would be spent on growth and "social cohesion" in Greece.
"Humanitarian crisis, it has been called, and it is indeed a humanitarian crisis," he said."Humanitarian crisis, it has been called, and it is indeed a humanitarian crisis," he said.
He said the EU would provide Greece with €2bn worth of development funds to boost economic growth, cut youth unemployment and help the poor.He said the EU would provide Greece with €2bn worth of development funds to boost economic growth, cut youth unemployment and help the poor.
Greek Prime Minister Alexis Tsipras welcomed the move, stressing a common need to tackle the humanitarian crisis.Greek Prime Minister Alexis Tsipras welcomed the move, stressing a common need to tackle the humanitarian crisis.
BailoutBailout
EU leaders say Greece is due to produce a fresh reform plan to fend off bankruptcy.EU leaders say Greece is due to produce a fresh reform plan to fend off bankruptcy.
Mr Tsipras has pledged to end austerity - but so far, his plans have met resistance from Greece's EU creditors.Mr Tsipras has pledged to end austerity - but so far, his plans have met resistance from Greece's EU creditors.
The new crisis comes less than a month after the German parliament approved a four-month extension of rescue finance for Greece while the new government attempts to enact economic reforms.The new crisis comes less than a month after the German parliament approved a four-month extension of rescue finance for Greece while the new government attempts to enact economic reforms.
But relations between Germany and Greece have since deteriorated, with Greece threatening to seize German property as compensation for a Nazi atrocities in World War Two.But relations between Germany and Greece have since deteriorated, with Greece threatening to seize German property as compensation for a Nazi atrocities in World War Two.
Earlier this month, Mr Tsipras also accused Spain and Portugal of conspiring against his country during February's bailout negotiations.Earlier this month, Mr Tsipras also accused Spain and Portugal of conspiring against his country during February's bailout negotiations.
Mr Juncker's announcement came after marathon talks between Mr Tsipras, German Chancellor Angela Merkel and other European leaders in Brussels, on the sidelines of an EU summit.Mr Juncker's announcement came after marathon talks between Mr Tsipras, German Chancellor Angela Merkel and other European leaders in Brussels, on the sidelines of an EU summit.
Mr Tsipras has reportedly already warned Mrs Merkel Greece will not meet imminent debt payments without new aid. Mr Tsipras has reportedly already warned Mrs Merkel that Greece will not meet imminent debt payments without new aid.
Spain's Economy Minister, Luis de Guindos, backed Germany's position, saying on Sunday that Greece must implement promised economic reforms.Spain's Economy Minister, Luis de Guindos, backed Germany's position, saying on Sunday that Greece must implement promised economic reforms.
"There will not be any disbursement before there is a real test that the reforms have been approved and implemented.""There will not be any disbursement before there is a real test that the reforms have been approved and implemented."
According to the Financial Times, Mr Tsipras wrote to Mrs Merkel on 15 March outlining Greece's precarious financial position.According to the Financial Times, Mr Tsipras wrote to Mrs Merkel on 15 March outlining Greece's precarious financial position.
In the letter, he wrote that Greece faced a short-term cash flow-crisis and might have to choose between paying pensions and wages and meeting debt obligations. In the letter, he wrote that Greece faced a short-term cash-flow crisis and might have to choose between paying pensions and wages and meeting debt obligations.
Mr Tsipras seems clear which option he would choose, writing that to add to Greece's social crisis was "a prospect that I will not countenance".Mr Tsipras seems clear which option he would choose, writing that to add to Greece's social crisis was "a prospect that I will not countenance".
At last week's EU summit, Greece promised to meet creditors' demands to present an economic reform package within days to unlock the cash it needs to avoid leaving the euro.At last week's EU summit, Greece promised to meet creditors' demands to present an economic reform package within days to unlock the cash it needs to avoid leaving the euro.
Bridge-building?Bridge-building?
It was unclear whether Mr Tsipras would have a list of reforms to present at his meeting in Berlin with Mrs Merkel.It was unclear whether Mr Tsipras would have a list of reforms to present at his meeting in Berlin with Mrs Merkel.
In a newspaper interview on Sunday, he said that the talks would not be "under pressure from negotiations", a suggestion that the meeting may be more about bridge-building than hard bargaining.In a newspaper interview on Sunday, he said that the talks would not be "under pressure from negotiations", a suggestion that the meeting may be more about bridge-building than hard bargaining.
But that may not be enough for many in the German government who are reluctant to extend Greece more money with coming up with reform programme. But that may not be enough for many in the German government who are reluctant to extend Greece more money unless it comes up with a reform programme.
"I expect [Mr Tsipras] to present this list in his talks with the chancellor on Monday," said Thomas Oppermann, parliamentary leader of Merkel's Social Democrat coalition partners. "I want to know once and for all if Greece is ready to reform or not." "I expect [Mr Tsipras] to present this list in his talks with the chancellor on Monday," said Thomas Oppermann, parliamentary leader of Mrs Merkel's Social Democrat coalition partners. "I want to know once and for all if Greece is ready to reform or not."
Yannis Palaiologos, author of The 13th Labour of Hercules, a book about Greece's financial crisis, told the BBC's World Business Report programme, that the meeting would be a chance "to re-build the personal relationship". Yannis Palaiologos, author of The 13th Labour of Hercules, a book about Greece's financial crisis, told the BBC's World Business Report programme that the meeting would be a chance "to rebuild the personal relationship".
Greek proposals so farGreek proposals so far
Greek pledges: Key pointsGreek pledges: Key points