Greece could reach a deal with its international creditors if demands such as further cuts to pensions were dropped, Prime Minister Alexis Tsipras said in an interview with Italian daily Corriere della Sera, published yesterday (June 9). "If Greece fails, the markets will immediately go to look for the next one. If negotiations fail, the cost for European taxpayers would be enormous," he said, adding that "It would be the beginning of the end of the eurozone."

Greek Minister of State Nikos Pappas and Alternate Minister for International Economic Affairs Euclid Tsakalotos met with EU Economic Affairs Commissioner Pierre Moscovici in Brussels yesterday (June 8) to discuss progress in negotiations, a Greek government official said.

Meanwhile, at the G7 Summit, taking place in Germany, USA President Barack Obama said that "the Greeks are going to have to follow through and make some tough political choices that will be good for them long-term." At the same time, international lenders should "recognize the extraordinary challenges" that Greece faces and show flexibility to get a deal.

On her part, German Chancellor Angela Merkel noted "We want Greece to remain part of the euro zone but we take the clear position that solidarity with Greece requires that Greece makes proposals and implements reforms."

The Greek Prime Minister is due to meet Angela Merkel and French President Francois Hollande, on the sidelines of a summit in Brussels on Wednesday (June10).