The leaders of Germany and France on Tuesday said that talks between Greece and its international creditors should be accelerated in order to meet an end-of-May deadline for a reform programme, according to dpa. "I'd say the talks need to speed up, rather than that they are going too fast," said Chancellor Angela Merkel at a joint press conference with French President Francois Hollande. "The agreement in February was that a programme should be in place by the end of May. That is necessary because the extension expires at the end of June. We all have an interest that this target is met," she added. Tsipras is expected to meet Merkel and other EU leaders on the sidelines of an Eastern Partnership summit in Riga later this week, in a bid to reach a quick resolution in the bailout negotiations. The Greeks have presented a "substantial" list of reforms which could possibly pave the way for a Eurogroup meeting of eurozone finance ministers next week, an EU diplomat said on condition of anonymity. Hollande, visiting Berlin to discuss climate policy, said Germany and France would address Tsipras "with one voice." "We have to accelerate matters. Greece has financial needs that can no longer wait. Funds have to be found," he said. "We'll tell him that we want Greece to remain in the eurozone, but that we also want a sustainable, long-term solution so we don't keep having this uncertainty. That's in everyone's interest," he added. Greece's main stock index was trading higher Tuesday amid hopes of an impending agreement with the bailout creditors. As of 12:47 pm (0947 GMT), the Athex Composite was trading 3.38 per cent higher, at 852.97, buoyed by optimism following remarks by Greek Finance Minister Yanis Varoufakis who said late Monday that he expects an agreement with the country's international creditors within the next week. In the interview on Greece's private TV channel Star TV, Varoufakis said a deal with creditors was "very close. Let's say [it's a matter] of about a week," he added. Greece's government has been struggling since February to reach a deal with creditors from the eurozone and the International Monetary Fund for the release of 7.2 billion euros (8.3 billion dollars) in aid from an existing bailout, part of which expires at the end of June. Officials in Athens and Brussels have said Greece will almost certainly be unable to pay its debts and other bills in June without a cash injection from creditors. Greece is due to pay the IMF totalling around 1.5 billion euros in June. However, the European Commission - one of Greece's three creditors - voiced caution Monday about the timetable. "More time and effort is needed to bridge the gaps on the remaining open issues in the negotiation," said commission spokesman Margaritis Schinas.
