A senior U.S. Treasury official said that the United States is stressing constructive and more realistic outcomes for Greece in negotiations with its creditors. U.S. Treasury Secretary Jack Lew will make a bid for Greece during his participation at the G7 meeting in Dresden, Germany, that begins on Wednesday.

The meeting includes the participation of key players in negotiations to prevent Greek default of payments, such as International Monetary Fund Chief Christine Lagarde, Eurogroup President Jeroen Dijsselbloem, European Central Bank President Mario Draghi and EU Economic and Monetary Affairs Commissioner Pierre Moscovici.

Private MEGA TV correspondent in Washington Michael Ignatiou says that a brief announcement was made on Tuesday that states that President Barack Obama is endorsing an immediate and pragmatic solution through constructive dialogues in Brussels. The same sources indicate that Lew has already discussed Greece with Lagarde so that a solution can be found by June 5.

Telephone contact between Prime Minister Alexis Tsipras and Lew was also confirmed by the Greek government.

U.S. government sources state that failure in negotiations between Greece and its creditors could have unpredictable outcomes for Greece, Europe and the global economy with the possibility of negative contagion affects. The 7-billion-euros benchmarked for Greece are currently at stake with many issues remaining unsettled.

On his part, however, German Finance Minister Wolfgang Schaeuble, hosting the G7 meeting, told German radio that the Greek problem is not on the agenda and cannot be solved at the G7.