The negotiations between Greece and its international lenders are in a "state of flux", but there's a "will and strong determination that an agreement will be found," European Central Bank President Mario Draghi said at a news conference on Wednesday. When asked whether a Greek deal is close, Draghi said it was difficult to give an update in real time, partly because the talks are taking place in Brussels, whereas the ECB is in Frankfurt. The ECB boss also said that the current cap on T-bill issuance by the Greek government is conditioned on an aid disbursement from the lenders. The comments come as Greek Prime Minister Alexis Tsipras is set to meet with European Commission President Jean Claude Juncker in Brussels later on Wednesday, where he is expected to be presented with a new reform plan drawn up by Greece's creditors. However, Tsipras has insisted he is bringing Athens's own proposals to the meeting, which raises the possibility the lenders' offer could be rejected. Greece is due to repay 303.3 million euros ($338.7 million) to the International Monetary Fund on Friday. Fears are that the country is so low on cash, it'll miss that payment unless more bailout money is released.
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