Negotiations surrounding Greece have reached deadlock, once again

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Negotiations between Greece, France and Germany within the EU leaders summit in Riga, Latvia have been interrupted without any of significant progress, Bloomberg reports.
Nevertheless, Athens have failed to ensure additional loan proceeds and a stable future in the eurozone. Following the results of communication in Riga, the President of France François Hollande, the German chancellor Angela Merkel and the Greek PM Alexis Tsipras have agreed only ‘to support close working contact’.

The joint statement made by the German and French government have stated that negotiations ‘have been held in a friendly and constructive manner’ being aimed at having ‘successful implementation of the existing program’ to support Greece where needed.

The document testifies that the agreement on the continuation of negotiations between the government in Greece, and the international institutes have been reached. Merkel has, since Friday morning, declared that ‘still a many things still remain unresolved’ for the conclusion of final arrangements regarding Greece.

Recently the Minister of Finance of Germany, Wolfgang Scheuble has hinted that he doesn’t exclude the possibility of a Greek default. Moreover, the Minister of Labour in Greece Panos Skurletis has stated that ‘if the financial solution won’t be found till June 5, the situation will become difficult’.