Greece's politicians on Monday lurched towards a ninth day of talks to try and form a government that could handle the country's acute financial crisis, stave off default and ensure Greece stays in the euro.
Greek default drama is much like the movie Groundhog Day. If you prefer a quote from Yogi Berra instead, then please consider It's déjà vu all over again.
Every day for weeks we have heard a "deal is close". Moreover, on multiple occasions at the end of the week we were informed Greece "had" to reach agreement over the weekend or Greece would default. Let's hope this time someone really means it.
The talks still continue but good news is on the horizon as yet another political party, the Democratic Left, has backed out of the Unity coalition.
Please consider Greece's moderate left says no government possible
The moderate Democratic Left party in Greece says it will not join pro-bailout parties in a coalition without the more radical far-left Syriza.
According to the Greek website Kathimerini, Troika talks break down.
A second meeting between troika officials in Athens and Greece's Labor Minister Yiannis Vroutsis broke down on Tuesday, after the two sides hit a deadlock for the second time in the same day.
By Steven Reiman:Greece is like a day time soap opera, where they keep coming back to the same story line. "They're going to default! Oh no they aren't. This time they're defaulting for sure! Nope, think again." Maybe Greece will make an appearance on "Young and the Restless" and Victor Newman will solve the problem the way he always does and just buy the whole thing.
Greece's private creditors decided Wednesday to send a team of experts to Athens to assist the negotiations on a writedown of Greek debt worth an expected 100 billion euros ($130 billion).At a meeting in Paris the committee steering the negotiations on behalf of private creditors "decided to send a team of experts to Athens to continue negotiations with the Greek Government on legal and technical issues related to the voluntary PSI," according to a statement.