Bloomberg
by Nikos
Chrysoloras
4:58 PM
EEST
May 30,
2015
Greek
officials and creditor institutions are locked in talks for another weekend as
both sides work against a payment deadline to avert default and a euro-region
exit.
“The key
issue is to resolve the situation so that Greece can remain a member of the
euro area,” the European Commission’s vice president, Jyrki Katainen, told
Finland’s YLE TV1. “Unfortunately over the past six months things have turned
for the worse in Greece ,
purely for political reasons.”
The
standoff between Greece ’s
anti-austerity coalition and creditors over the terms attached to the country’s
emergency loans has triggered a liquidity squeeze, tipping the economy into a
double-dip recession.