Greece repaid one of its key loans on Thursday, but with the country's coffers still close to empty, the government may merely have earned short-term respite.
As the holiday of the Orthodox Easter Weekend approaches, newly minted Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis are unlikely to be unwinding for the long weekend. Greece has been given six working days by the euro zone technical staff of the Euro Working Group to come up with proposals for a reform agenda—on which further financial aid is conditional—ahead of a key meeting of euro zone finance ministers on April 24 in Riga, Latvia.
The struggling Greek economy still needs financial support. It faces two redemptions of bills for a total of 2.4 billion euros as soon as April 14 and 17.