Brussels and Greece close to deal, but IMF resistance

Greece is close to an agreement with its international creditors following the presentation of a new list of reforms by the Radical Left Coalition (SYRIZA) government and Finance Minister Yanis Varoufakis. The new agreement concerns the period until June, however there still needs to be an agreement following this period.

A European Commission official that spoke with private MEGA TV confirmed that the two sides are headed towards a deal, whereas he added that they would need to evaluate the course of Greek reforms after June.

MEGA's source states that common ground has been found on thorny issues as Athens appears willing to make cuts and implement tax measures that would bring money to the country's coffers while reinforcing Greece's credibility.

The same official states that the only barrier at the moment is the stand of the International Monetary Fund (IMF) that wants to see the completion of the fifth review of the Greek economy before giving its seal of approval.

Greek Finance Minister Yanis Varoufakis left Athens for Washington on Sunday for an evening meeting with IMF Chief Chrisstine Lagarde in an effort to break down the IMF's resistance and clinch the deal.