Greece creditors say no deal near as G-7 frustration vented

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http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_29/05/2015_550510

Greece creditors say no deal near as G-7 frustration vented
By Ian Wishart & Hans Nichols
Friday May 29, 2015 (10:08)

Greece’s creditors said a deal to unlock rescue aid isn’t imminent as they demanded the debt-ravaged nation make stronger commitments to overhaul its economy.

The Greek government saw its optimism over an agreement rebuffed as European officials gathered in the German city of Dresden for a Group of Seven meeting and said much more effort is needed. Greece had claimed a solution could be reached by Sunday.

There is a “substantial way to go,” European economic commissioner Pierre Moscovici said in a Bloomberg television interview on Friday. “I wouldn’t give a day for a deadline. There have been some deadlines in the past, and there we are today. But it’s clear that we need to speed up, that time is running short.”

With time and patience running out, the Mediterranean nation hasn’t yet said how it will pay almost 1.6 billion euros ($1.74 billion) in International Monetary Fund payments scheduled for next month, with the first transfer due June 5.