Creditors tell Greek leader to offer improved economic reforms

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Greek prime minister Alexis Tsipras has reinforced his diplomatic offensive to try to convince European creditors to pay out the bailout loans the country needs to avoid default&period;<&sol;p>&NewLine;<p>The creditors have made it clear that Greece has to improve its offer of economic reforms before they release €7&period;2bn the country needs to pay debts due at the end of the month&period;<&sol;p>&NewLine;<p>Mr Tsipras had a short meeting with EU Commission president Jean-Claude Juncker and another with German chancellor Angela Merkel and French president Francois Hollande that lasted into the early hours&period; He plans to continue talks with Mr Juncker later&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We decided to intensify the effort to bridge the remaining differences and proceed – I think will proceed – to a solution&comma;” Mr Tsipras said after the talks&period;<&sol;p>&NewLine;<p>The discussions came after the European Commission said the offers made by Greece last week were still not good enough to unlock the bailout funds&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;For this final push&comma; the commission is of the view that the ball is clearly now in the court of the Greek government&comma;” commission spokesman Margaritis Schinas said&period;<&sol;p>&NewLine;<p>With the onus firmly on Greece and options increasingly limited&comma; Standard &amp&semi; Poor’s in New York downgraded Greece’s credit rating one notch further into junk territory&comma; saying it is likely the country will default on its commercial debt within a year if it cannot strike a deal with creditors&period;<&sol;p>&NewLine;<p>The ratings agency said Greece has shown it is giving higher priority to its pensions and other domestic spending than making debt payments on time&period;<&sol;p>&NewLine;<p>S&amp&semi;P lowered Greece’s rating to CCC from CCC&plus; with a &OpenCurlyDoubleQuote;negative” outlook&period;<&sol;p>&NewLine;<p>Finance ministers from the 19 nations using the euro currency will meet in Luxembourg next week with the Greek deadline for payment ever closer&period;<&sol;p>&NewLine;<p>The lack of visible progress in the negotiations over past weeks has revived fears Greece could default on its debts and drop out of the euro&comma; a move that would create huge uncertainty for Europe and global markets&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The goal is to keep Greece in the eurozone&comma;” Ms Merkel said&period; &OpenCurlyDoubleQuote;Where there is a will&comma; there is a way&period;” She insisted it was up to Mr Tsipras first and foremost to show that willingness&period;<&sol;p>&NewLine;<p>Greece has three weeks to conclude a deal with creditors before its bailout programme expires at the end of the month&comma; when it will also have to repay about €1&period;6bn to the International Monetary Fund&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We must be quick&period; We must not let things drag out&comma;” Mr Hollande said&period;<&sol;p>&NewLine;<p>Mr Tsipras insisted not only Greece was at risk&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We must find a solution that will give Greece the opportunity to safely return to growth and a sustainable debt – on a course that will bring back security and stability not just to Greece but all of Europe&period;”Syriza<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed2e0e6b31c">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68ed2e0e6b31c'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;document&period;addEventListener&lpar; 'DOMContentLoaded'&comma; window&period;getAdSnippetCallback &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; else &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback&lpar;&rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<&sol;script>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>


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