Euro zone finance ministers are skeptical concerning the
Greek bailout proposal. The Eurogroup was unified last week but is splintering.
Germany, Finland, Austria and Slovakia maintain a hard line on Greece and state
“trust” as a major issue. Slovakia finance minister Peter Kazimir says lack of
trust is so big that “it’s not possible to reach a deal today.” France and Italy
are more sympathetic to Greece’s plight. Eurogroup head Dijsselbloem says the
Greece situation is “still very difficult.” Italy’s Renzi takes the side of
Greece telling Germany that “enough is enough” and “we must absolutely sign a deal.”
Tensions are running high as the Eurogroup meeting
[Text is Redacted: Purchase July 2015-07 to Read the Complete Chronology]
[Text is Redacted: Purchase July 2015-07 to Read the Complete Chronology]
At 5:30 PM EST (10:30 PM London; 11:30 PM Brussels; 12:30 AM
Athens Monday morning; 6:30 AM Tokyo Monday morning), Greece bailout talks are
ongoing and may continue until dawn. The critical element is the extension of
the ELA (emergency liquidity assistance) by the ECB otherwise the Greek banks
will collapse tomorrow.
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