SCHAEUBLE: 'Nobody expects that there will be a solution' for Greece in April

Greek Finance Minister Yanis Varoufakis and German Finance Minister Wolfgang SchaeubleREUTERS/Fabrizio BenschGreek Finance Minister Yanis Varoufakis and German Finance Minister Wolfgang Schaeuble (L) address a news conference following talks at the finance ministry in Berlin February 5, 2015. Promising to end five years of austerity, Greek Prime Minister Alexis Tsipras and Varoufakis, are meeting senior officials across Europe to seek support for a new debt agreement.

More bad news for Greece.

According to the Financial Times, German finance minister Wolfgang Schaeuble said on Wednesday evening that “nobody expects that there will be a solution” to Greece’s bailout drama by the next Eurogroup meeting on April 24.

That’s not quite in keeping with what Greek finance minister Yanis Varoufakis said just a week ago, when he told Bloomberg he was “very confident” that Greece would seal the deal by the time Europe’s finance ministers gather.

It’s not looking very positive for the bailout. There’s a constant drip of leaks coming from the European side of the bailout talks, which suggest that Greek proposals are not detailed enough and that there are far too many red lines — areas of reform that they refuse to pursue.

Greece managed its latest payment to the International Monetary Fund, but it’s not clear it can make the next on May 12 without any bailout cash. Even it makes that, it’s certain that it can’t make all the payments through the summer without a boost.

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