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The government is trying to resolve problems both within SYRIZA and in the Greek economy. Late May-early June is the ultimate deadline. The Greek side has shown itself to be flexible as far as SYRIZA’s ‘red lines’ are concerned, and compromises have been reached on many points. Hence, the Greeks are expecting "a gesture of political will on behalf of the institutions."

Tsipras: the knot of negotiations should be loosened

The right tone for negotiations was struck by the prime minister himself. In his speech at the annual congress of the Economist, he said that the Greek government is negotiating an overarching contract designed to "ensure Greece's coming out on the markets."

Alexis Tsipras revealed that earlier in the negotiations they were faced with the request of the creditors to complete the 5-year evaluation.

"We asked for respect. We managed to get the creditors thinking not about a memorandum, but groping for common ground upon which to gain a foothold," said Tsipras and called on everybody to stand for the national ‘red lines’ "because everything else would be a re-enactment of mistakes and frustration."

The four conditions

Tsipras set four conditions for an agreement that would put an end to austerity:

• low primary budget surpluses

• no commitments for new cuts in wages and pensions

• sovereign debt restructuring

• strong public investment programme

The key moments

While negotiations seem set to reach their end, there are still many points to be clarified:

The primary budget surplus: The amount will be determined according to the projected budget surplus for 2015.

VAT: The two sides seem to have agreed on a dual rate, but the levels - and to which goods they will apply - haven't been thrashed out yet.

PENSION SYSTEM: Athens loathes even the idea of any cuts to primary and auxiliary pensions. Nevertheless, there seems to be a division on this between the IMF and the European Commission. The IMF has been insisting on cuts while the EC is willing to start a dialogue over the viability of the Greek pension system.

EMPLOYMENT: Creditors would not condone a return to the minimum wage.

A technical level agreement is possible

Intensive discussions continue in the Brussels Group towards some specific indicators, and all parties recognize that much work has already been done.

Under the agenda, talks will continue by conference link in the coming days. The negotiating parties are meeting again in Brussels over the weekend, or on Monday at the latest.

A SYRIZA in-house stress test before the agreement

SYRIZA has been abuzz recently. Both the party and its parliamentary group are eagerly anticipating how things will turn out.

The incessant meetings of the various party formats debating the negotiations process and the agreement’s eventual content are a telling sign. MPs believe, however, that "whatever agreement is concluded by the government, it will be approved."