Financial crises

The Greek government estimates that the influx of income it will reach according to the list of measures it presented to the Institutions, will amount to six billion euros.

In a worst case scenario, Athens commits to achieving a primary surplus of 3.1% of GDP while the best case scenario estimates a surplus of 3.9% of GDP.

The Greek finance ministry claimed that a Euroworking Group meeting took place within a positive climate, after a 27-page-long explanation of planned reforms sent to the Brussels Group on Wednesday morning.

A deal on Greeces bailout is possible before the end of April, EU Council President Donald Tusk said Tuesday as Athens continued tough talks with its creditors on a disputed list of reforms.

Tusk said the negotiations were "complex," and while nothing was expected before Easter, a late April deadline agreed between Greece and its EU-IMF creditors was still within reach.

 Revenues boost from monitoring deposits abroad and from sell-offs such as Piraeus port, regional airports

By Yiannis Papadoyiannis

The country?s four main banks were forced to write off old and expired debts of more than 2.5 billion euros last year in an effort to clean up their financial accounts, abandoning expected revenues whose collection they deemed unlikely.

Greece sounded an upbeat tone on Sunday over talks with its European and IMF creditors, which it said were continuing through the weekend as the cash-strapped country races to agree on reforms that will unlock more aid.

Fitch Ratings has downgraded Greece’s long-term foreign and local currency Issuer Default Ratings to “CCC” from “B,” according to announcement released by the organization on Friday.

The downgrade came out earlier than the next scheduled review, a fact which indicates a sense of urgency.

Read below the announcement of the agency

The German government has no details about the list of reforms that Greece is due to present by Monday in the hope of avoiding bankruptcy, a spokeswoman for the German finance ministry said.

"We have had no concrete information presented to us," Marianne Kothe said at a news conference in Berlin on Friday.

The government will on Tuesday begin debating measures to boost liquidity as the cash-starved country braces for more than 2 billion euros in debt payments on Friday.

 Fiscal gap at 3.3 bln euros if primary surplus target is kept at 3 pct, and at 1.2 bln if it drops to 1.5 pct

By Sotiris Nikas