Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel will hold talks Wednesday in Brussels as a part of the high-level meeting between representatives of the EU and Latin America.

The meeting will be held merely a day after Greek government submitted a revised list of reform proposals to the EU. If approved, they will unlock an additional financial aid in the amount of EUR 7,2 B. It is set on helping the country to repay the upcoming installment to the IMF that needs to be submitted until end June.

European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis stated that an agreement could be achieved over the next several days. He also, however, urged Greece to demonstrate a little less ''technical manoeuvres'' and more work.

Tensions still remain between the Troika creditors and the Athens government on account of the necessary for reforms that need to be implemented. The biggest point of difference between the two parties is the proposed measure for a decrease of pensions and other social care programs.