As Greece runs out of time and money, the country’s Prime Minister Alexis Tsipras said it has found common ground during talks with its foreign lenders.

There is no possibility that the Greek government will back down on the issue of wages and pensions.

Speaking at an economic conference in Athens, Tsipras said he is optimistic that a deal is near, but his government would not back down from its red line in negotiations.

“There is no possibility that the Greek government will back down on the issue of wages and pensions,” said Tsipras. “Wage earners and pensioners have suffered enough in this country. It is now time for a redistribution – it is time to share the burden in a fair way.”

Greece’s bailout program expires in late June, however it hopes to reach a deal before the end of May, which would release much-needed financial aid from its lenders the EU and the IMF, both of whom have been demanding pension and labour reforms.