The Financial Times

By John Geddie

Greek two-year yields surged on Thursday to their highest since the bonds were issued last year after the Financial Times reported that the International Monetary Fund had rebuffed a request from the country to delay loan repayments.

The Financial Times' correspondents in Athens are apparently doing their homework - along with legwork - as the most recent piece on the "Greek issue" in the influential UK-based paper uses the phrase "Kolotoumba" (somersault or flip-flop) to gauge whether or not the radical leftist government will abandon its pre-election rhetoric and toe a more "pro-Europe" line, particularly in terms of fina

Greece denied on Monday a report by the Financial Times that it was preparing for a debt default if it did not reach a deal with its creditors by the end of the month and said the negotiations were proceeding "swiftly" towards a solution.

Finance Minister Yanis Varoufakis said in Parliament on Thursday morning that it is unacceptable that public opinion is being informed by websites on the negotiation with the partners.

New Democracy deputy Yiannis Voutsis had earlier said that deputies are informed on the government's proposals on the Internet.

The Greek government estimates that the influx of income it will reach according to the list of measures it presented to the Institutions, will amount to six billion euros.

In a worst case scenario, Athens commits to achieving a primary surplus of 3.1% of GDP while the best case scenario estimates a surplus of 3.9% of GDP.

Greece's Prime Minister Alexis Tsipras has warned German Chancellor Angela Merkel in a letter that Athens will not be able to service its debt without financial help from the EU, the Greek government revealed on March 23.
      
Greek government spokesman Gabriel Sakellaridis confirmed a report in the Financial Times which said that Tsipras had written to Merkel.
      

 In letter, PM said his government would be forced to choose between paying off loans or continue social spending

Italy's Infrastructure and Transport Minister Maurizio Lupi announced on Thursday that he is to present his resignation to the country's parliament on Friday.

Lupi has been under pressure to resign due to corruption allegations at his ministry involving the awarding of public contracts, ANSA news agency reports.

Sweden plans to station troops on the strategic Baltic island of Gotland, as Russia has increased its military activity in the region.

Permanent military presence has been absent from Gotland, which is Sweden's largest island, for a period of ten years, the Financial Times reports.

The Greek government is scrambling to make its payments for March amid speculation that the figures don’t add up. Finance Minister Yanis Varoufakis said that Greece has the cash required to meet debt obligations but not VAT refunds. Furthermore, an anonymous official told the Financial Times that Greece needs 1.5 billion euros by the end of March to make its payments and avoid wage delays.