Sunday to be the deciding day to Greece?

Yesterday, the Greek government has presented its reform proposals as demanded by its creditors. These proposals come obviously very close to the position of the creditors. To finalize an agreement, some hurdles have to be overcome. 

Another deadline for Greece has been drawn. Until Sunday, there has to be a decision whether the country receives a new bailout programme or whether it moves down the road towards exit from the monetary union.

Creditors might demand additional savings measures because of the adverse economic situation which lead to higher deficits in the public budget. The question of debt relief also has yet to be answered. Finally, parliaments - in Greece and in other euro zone members - have to approve any agreement.

However, chances of a successful conclusion of the negotiations have certainly increased, says Commerzbank.