Early elections are possible in Greece this spring, report several newspapers on Monday.

Newspaper "Avriani" says Greek PM George Papandreou is faced with a complete impasse, which could result in snap elections on March 27 or April 3.

According to the newspaper, the early elections could come as a result of Papandreou "accepting the humiliating conditions" of German Chancellor Angela Merkel in aiding the Greek economy, which foresees all benefits for employees to be reduced to zero.

Daily "Vima" reads the possibility for snap elections has also been enhanced by last week's call of opposition New Democracy leader Andonis Samaras on fellow party members to be ready for an early vote in the course of the spring.

On the other hand the governing PASOK says it intends to complete the four-year mandate until October 2013.

Public opinion polls show that despite the dissatisfaction by majority of Greeks from the government's austerity measures, the ruling party is still the most popular political party in the country.

Analysts in Athens claim that early elections could be possible if Greece failed to meet obligations undertaken with the EU and IMF agreement, but even then Papandreou would only opt for a government reshuffle.