The euro area’s sources in Brussels said a list of reforms sent by Greek Finance Minister Yannis Varoufakis has neither been approved nor disapproved, contrary to media reports in Greece, which claimed the list was rejected.

Responding to a press question, sources said discussions are continuing, suggesting that the eurozone ministers are still expecting a full package of Greek proposals.

European Commission sources have said that both sides are going to continue negotiations ahead of the Eurogroup meeting on Monday.

Meanwhile, the finance ministry categorically denied press reports on Thursday that the content of Greek proposals had been discussed at the Euro Working Group on Wednesday.

What lenders want

Sources state that the three institutional creditors — the IMF, ECB and EC, previously known as the “troika” and now rebaptized as the “institutions — as well as eurozone members are asking the new Greek government to continue with privatisations in order to boost its near empty state coffers. Parallel to this, the institutions are worried as to how the real situation in Greece is developing and are calling for the return of the troika to review Greek finances.