Chances for Greek bailout deal stand at about '50-50': Wolfgang Schaeuble

Frankfurt: German Finance Minister Wolfgang Schaeuble said Friday he sees a 50-50 chance that Greece will be able to reach an agreement with its creditors on reforms needed to unlock vital bailout funds.

"The chances for an agreement are about 50-50," a finance ministry spokesman confirmed Schaeuble as saying on the sidelines of a financial conference in Frankfurt.

During his speech, Schaeuble pointed to the current risks faced by the 19-country euro area.

"Countries with too much debt are more likely to experience financial and economic crises, sound public finances will reduce an economy's vulnerability to crisis, and this boosts growth in a sustained and sustainable way," he argued.

His remarks came after intensive talks in Brussels this week to end the standoff between Athens' anti-austerity government under Alexis Tsipras, which has balked at further reforms-for-cash after five years of bailout-imposed economic hardship.

According to new proposals seen by AFP, Greece's creditors are ready to quickly disburse 1.8 billion euros ($2.0 billion) in financial aid to help Athens meet a 1.5 billion euro IMF debt repayment on June 30 as long as the Greek parliament approves disputed reforms.