Despite arguments, there are points of agreement between Greece and its lenders, mainly over modernising tax collection, tackling tax evasion, fraud and corruption and a U-turn by Athens on some disputed privatisations– such as the sell-off of the Port of Piraeus.
But on Wednesday, the head of the Eurogroup of euro zone finance ministers, Jeroen Djisselbloem, poured cold water on hopes that a deal on reforms could be reached when the group meets on May 11.
But there is hope a deal can be arrived at soon after a statement was released by the European Commission detailing a conversation between Greek Prime Minister Alexis Tsipas and the Commission's President Jean-Claude Juncker on Wednesday.
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"President Juncker and Prime Minister Tsipras spoke on the phone today… They notably discussed the importance of reforms to modernise the pension system so that it is fair, fiscally sustainable and effective in averting old-age poverty. They also discussed the need for wage developments and labour market institutions to be supportive of job creation, competitiveness and social cohesion. In this context, they concurred on the role of a modern and effective collective bargaining system, which should be developed through broad consultation and meet the highest European standards."
The Greek government official CNBC spoke to said that the statement showed there had "some kind of breakthrough" and believed a deal could be arrived at in the "next few weeks."
"There can be a deal on reforms -- without it necessarily needing to include harsh cut backs on pensions or mass lay-offs of workers which are recession-creating measures," the source, said.
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"There is wide room for convergence on things like collective bargaining and restrictions on early retirement too," he said.