Merkel: 'Time is running out' for achieving a deal between Greece and its lenders

"There isn't much time left. Everyone is working intensively. The day after tomorrow there will be opportunity to discuss it with the Greek prime minister. Every day counts now," she said during a press conference held after a meeting between the leaders of the Group of Seven (G7) industrialized nations in the Bavarian Alps.

The German leader also said that all the countries participating in the meeting of the want Greece to remain in the eurozone, but the country must also do its part. "Everyone around the table wants Greece to say in the euro....but we have rules,” Merkel told reporters, adding that solidarity and efforts by the country constitute “the right mix and the two sides of the same coin”.

Merkel mentioned Ireland, Spain and Cyprus as examples of countries which, after implementing painful measures, have improved their economy. "The measures proposed by the troika have led to success elsewhere,” she noted.
She also said Greece was of the many issues discussed the G7 leaders noting that “non-European partners” asked about the progress on the ongoing negotiations.