-Alexis Tsipras, Greece's Prime Minister
Greek Prime Minister Alexis Tsipras said he was "firmly optimistic" the government would reach an agreement with European creditors by the end of April. Tsipras admitted several points of agreement had been found since negotiation first began, especially on aspects such as tax collection, corruption and plans to distribute the tax burden on those, who have the ability to pay. Yet, he acknowledged that the parties disagreed on four issues including labour issues, pension reform, an increase in value-added taxes and privatization. His comments came after suggestions from European partners that a deal to unlock the release of Euro zone loans that Greece desperately needs to stay afloat is unlikely next week and that Greece risks depleting its cash reserves and defaulting on debt payments.
Meanwhile, the Standard and Poor's rating agency downgraded Greece's credit rating further into junk status Wednesday, adding the country's financial commitments would be unsustainable without "deep economic reform or further relief." The agency brought Greece's sovereign rating to CCC+ from B-, with a negative outlook "given the risk of further worsening in liquidity for the sovereign, the banks, and the economy." S&P also said Greece's solvency depends increasingly on business, financial, and economic conditions.
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