Greece is confident that it will be able to reach a compromise with its creditors this weekend. International lenders, such as the EU and IMF, are less optimistic.

Greece has been negotiating with its creditors for months. The heavily indebted country is seeking a cash-for-reforms style deal to extend its bailouts. However, the international lenders cite Greece’s reluctance to alter its labor and pension programs as a major reason for withholding further aid.

Greece must receive some sort of assistance or else it will default by June 30.

“We believe that we can and we must have a solution and a deal within the week,” said Interior Minister Nikos Voutsis.

“Some parts of our program could be pushed back by six months or maybe by a year, so that there is some balance,” said Voutsis. He did not elaborate on which elements of the anti-austerity program could be pushed back.

The current ruling party, Syriza, came to power in January by promising the Greek electorate a radical shift away from the austerity policies imposed on the country by the European Union. Prime Minister Alexis Tsipras was elected on a platform that included restoring the minimum wage level and collective bargaining rights.

A comprise is still held up by disagreements over the imposition of a higher VAT. Greece does not want a higher sales tax to burden citizens of low incomes.

However, when asked what Greece would do if it failed to reach a comprise this weekend, Economy Minister George Stathakis faltered.

“The idea of a Plan B doesn’t exist. Our country needs to stay in the eurozone but on a better organised aid programme,” said Stathakis.

The debate overshadowed a gathering yesterday of the Group of Seven rich nations in Dresden, German. The United States  said that a failure to reach an agreement with Greece could pose a risk for the world economy as a whole. Somehow, Greece must avoid defaulting on its debts before the June 30 deadline.

“Otherwise,” said Stathakis. “Mainly Greece but the European Union as well will step into unchartered waters and no-one wants that.”