Greek PM Tsipras Urges Creditor 'Realism'

The Greek prime minister has urged creditors to show "realism" as negotiations aimed at securing his country's immediate financial future intensify.

Alexis Tsipras was speaking ahead of a visit to Brussels for more talks, now in their fifth month, on a rescue plan.

His language remained defiant but there is also no sign the country's international lenders are willing to give much ground on their demands that any loans are conditional on sweeping financial reforms.

The president of the European Central Bank (ECB) told his monthly news conference the ECB wanted Greece to remain in the single currency but he insisted any agreement had to be "fiscally sustainable."

Mario Draghi described the negotiations on the release of €7.2bn as being in a state of flux but insisted the Greek economy was viable if the right policies were implemented.

In a sign of the frustration gripping the talks, a war of words has continued on the sidelines.

A spokesman for the ruling Syriza party's MPs in Greece has said there would be no €300m debt repayment to the International Monetary Fund (IMF), due on Friday, without the prospect of a new aid deal being close.

As Nikos Filis spoke, it emerged that the German finance minister had given an interview in which he accused Syriza of misleading voters ahead of January's election.

Wolfgang Schaeuble told the weekly paper Wirtschaftswoche: "Europe is based on mutual trust.

"You have to act sensibly, that is what makes the current talks with Greece so tiring,

"In the last election, Syriza succeeded in talking Greeks into believing there is a simpler way to stay in the euro - a way without major reform efforts that are actually in Greece's interests.

"Perhaps they shouldn't have made promises like that."

Greece is in a perilous position - and is certain to need a third bailout on top of the €7.2bn on the table.

Greece's creditors compiled their own new draft offer on Tuesday, hours after the Greek government submitted its own revised terms.

The rival plans are set to be discussed by deputy eurozone finance ministers while Mr Tsipras said his talks with the president of the European Commission this evening would be dominated by his proposals.

In comments late on Wednesday morning, Mr Tsipras said he had not received details of the creditors' latest offer to end the deadlock but he said any deal must give his country "the ability to emerge from the economic asphyxiation" and "put an end to Grexit (leaving the EU) scenarios, to doomsday scenarios."

He urged "realism" in the looming talks - particularly among the country's European partners.

The Greek payment of €300m to the IMF due on Friday is the first of four this month totalling €1.6bn.

It is feared that without a deal in the coming days, a default on its debts is inevitable - especially as Greece has pledged to prioritise the payment of wages and pensions to public sector workers over debt repayments.