Greece’s finance minister says his country’s financial situation is “terribly urgent” and the crisis could come to a head in a couple of weeks. Yanis Varoufakis gave the warning after eurozone finance ministers met in Brussels to discuss the final €7.2bn tranche of Greece’s €240bn EU/IMF bailout. Ministers said Greece had made “progress” but more work was needed. The Greek government is struggling to meet its payment obligations. Earlier, Greece began the transfer of €750m (£544m, $834m) in debt interest to the International Monetary Fund – a day ahead of a payment deadline. 

“The liquidity issue is a terribly urgent issue. It’s common knowledge, let’s not beat around the bush,” Mr Varoufakis told reporters in Brussels.”From the perspective [of timing], we are talking about the next couple of weeks.” Greece has until the end of June to reach a reform deal with its international creditors. Its finances are running so low that it has had to ask public bodies for help. MORE