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Agreement possibly by end of May

Based on the progress made thus far in the negotiations between Greek authorities and the institutions representing the creditors (European Central Bank, European Commission and International Monetary Fund), the two sides could be ready for an agreement by the end of the month, Greek government sources said on Thursday.

Speaking a few hours ahead of a planned trilateral meeting between Prime Minister Alexis Tsipras, German Chancellor Angela Merkel and French President Francois Hollande – due to be held after the end of the EU 4th Eastern Partnership Summit working dinner – the sources said they did not expect any agreement to arise and be ratified on Thursday.

They stressed that Thursday’s meeting was informal and in no way replaced either the European summit or the Eurogroup.

The Greek government expects a time schedule will be agreed so that an agreement will have been reached at the end of May and the Eurogroup that ratifies this will have taken place.