Tsipras back to reality after Putin with Greek cash shortage

By Marcus Bensasson and Rodney Jefferson

When his plane touches back down in Athens, Greek Prime Minister Alexis Tsipras will be quickly reacquainted with reality.

Talks with Russian President Vladimir Putin in Moscow on Wednesday focused on a proposed energy pipeline, future investments and sanctions over the conflict in Ukraine, a meeting that had been dismissed before it began by Germany and France as a sideshow. With a payment made to the International Monetary Fund on Thursday depleting Greek cash reserves still further, it's back to haggling with creditors in the euro region over a financial lifeline.

"There's been a big fuss over this trip without immediate economic benefits," said Dimitris Sotiropoulos, an associate professor of political science at the University of Athens. "Now he needs to do something quickly. There's an unbalanced negotiation now, where the Greek side is prepared on some issues and completely unprepared on others."

With a monthly bill of about 1.5 billion euros ($1.6 billion) for pensions and salaries, Greek officials this week said they are targeting an April 24 meeting of euro-area finance ministers as a deadline for approving new money. A looming cash crunch in the summer, when the European Central Bank needs to be repaid, means any respite would be temporary.

A meeting of the currency region's representatives late on Wednesday piled more pressure on the Greek government to start negotiating in earnest if it is serious about obtaining liquidity, according to two European Union officials.

Working easter

European Commission spokesman Margaritis Schinas said earlier Wednesday that there was "progress step by step." Discussions will continue during the...