Greek finance minister ready to resign, say press reports

LONDON (ShareCast) - Greece's finance minister is getting ready to resign from his post, say press reports. In a report surfaced in German news outlet Bild, a Greek government insider reportedly said Yanis Varoufakis, the country's finance minister is getting ready to resign from his post.

"It is only a matter of time until Varoufakis resigns. It is a done deal," said the government insider, who was first quoted by Greek news site Kontra. The Greek government has denied the report.

It is not known if the Varoufakis intends to resign before or after the country presents a list of specific and detailed reforms to EU creditors, due Monday next week.

A Greek government spokesman said that the reforms will not include measures which "affect Greeks' incomes". Greece is reportedly fast running out of money and could be bust by early April if immediate funding is not secured.

Since the negotiations started between Greece and EU finance ministers in Brussels, no document has been produced by Greece and there is little agreement with the country's creditors on fiscal measures.

All eyes are now on the Greek delegate on Monday. The Greek ASE index is currently up 0.9%.