Greece default 2015: Government denies accusations

The Greek government has dismissed media reports that the country is preparing to default on its loans if it cannot reach agreement on its bailout terms with international creditors.

A government spokesman said negotiations were proceeding swiftly towards a solution.

Greece negotiated a three-month extension to its €240 billion ($272 billion) bailout at the end of February.

The Greek government is due to pay the IMF €203 million on May 1st and €770 million on May 12th.

Photo Reuters

However, reports suggest the government is rapidly running out of money. It needs to find €2.4bn to pay civil service salaries and pensions this month.

The Greek government has also denied reports that it was considering calling early elections if it failed to negotiate a settlement with its international creditors.

Last week, eurozone officials said Greece only had six working days left to come up with a revised list of reforms to seal a deal on its next rescue bailout.

Eurozone deputy finance ministers want an agreement on the €7.2 billion loan in time for a Eurogroup meeting on April 24th.

PM Alexis Tsipras has said that Athens will not be able to service its debt without financial help from the European Union.