BRUSSELS (Reuters) - Euro zone finance ministers met on Monday to work out the details of a deal hammered out by their leaders to bolster their bailout fund and ease the terms on aid to Greece amid a...
Reuters - Euro zone finance ministers met on Monday to work out the details of a deal hammered out by their leaders to bolster their bailout fund and ease the terms on aid to Greece amid a positive reaction from financial markets.
ATHENS/BRUSSELS: Leftists in Prime Minister Alexis Tsipras' party vented fury on Thursday at terms proposed by Greece's creditors for a last-ditch deal to stave off bankruptcy, but European officials voiced confidence that an agreement was near. Tsipras emerged from late-night talks with senior EU officials in Brussels saying a deal with international lenders was "within sight" and that Athens would make a crucial payment due to the International Monetary Fund on Friday.
ATHENS/BRUSSELS — Leftists in Prime Minister Alexis Tsipras’ party vented fury on Thursday at terms proposed by Greece’s creditors for a last-ditch deal to stave off bankruptcy, but European officials voiced confidence that an agreement was near.
Tsipras emerged from late-night talks with senior EU officials in Brussels saying a deal with international lenders was “within sight” and that Athens would make a crucial payment due to the International Monetary Fund on Friday.
Talk of Compromise is in the air. Reports suggest that German Chancellor Angela Merkel and Greek Prime Minister Alexis Tsipras may both be willing to compromise. However, details are still sketchy. Bloomberg reports Greece, Germany Said to Offer Compromises on Aid Terms
ATHENS/FRANKFURT: Greece made a small interest payment to the International Monetary Fund on Wednesday but European lenders dashed hopes for a cash-for-reforms deal before a more crucial, bigger instalment Athens must pay next week. Leftist Prime Minister Alexis Tsipras' government sought to shift blame on Tuesday onto the euro zone and IMF for a lack of agreement in the three-month-old negotiations, charging that each was setting different "red lines" on multiple issues from pension and labour reforms to the primary budget surplus.
ATHENS: Greek Prime Minister Alexis Tsipras told Reuters on Thursday he was "firmly optimistic" his government would reach an agreement with foreign creditors by the end of April despite friction over issues such as pension and labour reform. In a statement, Tsipras said several points of agreement had been found since talks first started, especially on areas such as tax collection, corruption and initiatives to distribute the tax burden on those who have the ability to pay.
ATHENS/BERLIN: Greece and its creditors stuck to their positions on Monday after the collapse of talks aimed at preventing a default and possible euro exit, while Germany's EU commissioner said it was time to prepare for a "state of emergency". Prime Minister Alexis Tsipras ignored pleas from European leaders to act fast. Instead he blamed creditors for the collapse of the cash-for-reform talks on Sunday, the biggest setback in long-running negotiations to secure more aid for Greece.
European Central Bank President Mario Draghi urged Greece to work quickly toward an agreement with its creditors to curb a deepening financial crisis and quash doubts over its membership of the euro.
When asked about the risks of contagion, Draghi said Europe was better equipped to deal with a crisis than it has been in the past, the Financial Times reported.
ATHENS: German Chancellor Angela Merkel ruled out new negotiations with Greece until after it votes on a proposal from creditors, leaving virtually no hope left to avert a midnight default despite a plea from Athens for a last-minute bailout extension. As the clock ticked down on Tuesday towards midnight, when billions of euros in locked-up bailout funds are due to expire, euro zone finance ministers called a conference call (1700 GMT) to discuss the Greek request.
NEW YORK: The euro edged higher against the US dollar, yen and Swiss franc on Monday as a new cash-for-reforms offer from Greece raised hopes a tangible deal is taking shape that will help Athens avoid a default on its debts. Euro zone finance ministers left a meeting with Greek officials in Brussels voicing optimism at Greece's offer, with talk of more work ahead to achieve a potential deal this week.