Christine Lagarde

Greece's reform plan is sufficient to continue giving the country aid but is lacking necessary detail, International Monetary Fund Christine Lagarde said on Tuesday.

In a letter to Eurogroup President Jeroen Dijsselbloem, Lagarde said the Greek list was comprehensive but «not very specific."

The relationship between Greek Finance Minister Yanis Varoufakis and his German counterpart Wolfgang Schauble resembles that of an estranged couple who can only manage to communicate through their lawyers.

Greece secured a four-month extension of its financial rescue yesterday when its eurozone partners approved a reform plan that backed down on key leftist measures and promised that spending to alleviate social distress would not derail its budget.

As top government official announced, a Eurogroup video-conference is to be held on Tuesday on the list of reforms proposed by the Greek government.

The above announcement of the video-conference dropped as a bomb, since it raises questions as to whether is a positive sign or an omen indicating a gap that can not be bridged between Greek government and lenders.

Following the more-or-less successful Eurogroup conclusion on Friday, Eurogroup head Jeroen Dijsselbloem stated the following:

-       There is hope that in the end we will have a positive result

-       We are talking about trust, and today we took a step forward in the building trust.

-       We are on track

Athens on Friday evening referred to a four-month deal to extend its loan agreement with eurozone creditors, a development that translates into a successful conclusion to the often acrimonious deliberations following the formation of a new Greek government on Jan. 26.

Greece's Prime Minister Alexis Tsipras on Friday said he felt certain eurozone finance ministers would grant his country's request for a six-month extension to its EUR 172 B bailout.

Germany, however, has demanded "significant improvements" in Greek reform commitments, Reuters reported.  

Top European officials were engaged in furious diplomacy on Friday to build a bridge between fiercely divided Greek and German ministers whose agreement is needed to solve a bitter row over Greeces huge debt.

There is reason for some optimism on finding a solution for continued eurozone financing for Greece in exchange for reforms, the chairman of eurozone finance ministers Jeroen Dijsselbloem said after a round of initial talks.

For the third time in a little more than a week, 19 European finance ministers gathered in Brussels Friday to try to cut through the rhetoric and hammer out some way for debt-plagued Greece to stay in the euro.