In an interview with German newspaper Bild, Finance Minister Yanis Varoufakis stressed that the Greek government has made a number of alternative proposals for austerity measures to the creditors, who continue to request pension cuts that Greece will never agree to. However, the Greek negotiating team is "available at any time" to find a comprehensive solution with its partners, the minister said, adding that officials from the three institutions representing Greece's lenders needed to come back to the negotiation table "with a clear, robust mandate."

Speaking at an event yesterday in Heraklion, Crete, Varoufakis said that the three institutions (referring to Greece’s creditors: the European Commission, European Central Bank and International Monetary Fund) have different red lines. "It is one thing to negotiate with one institution and another thing to negotiate with three institutions that do not want the same thing."

In related news, commenting on the current situation in Greece, European Central Bank (ECB) President Mario Draghi stressed yesterday the need for "a strong and comprehensive agreement with Greece (...) By strong and comprehensive, I mean an agreement that produces growth, has social fairness, but that is also fiscally sustainable, ensures competitiveness, and addresses the remaining sources of financial instability. I can assure you that the ECB is doing all it can to facilitate a successful outcome." He also added that "a strong and credible agreement with Greece is needed, not only in the interest of Greece, but also of the euro area as a whole."

See also: Reuters: ECB's Draghi comments at European Parliament