ATHENS: Greece PM Alexis Tsipras has resumed talks with international creditors, with time running out to find a solution to Greece’s debt crisis.
A late-night session with the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) failed to close the gaps. Eurozone finance ministers hope to endorse a deal when they meet again, ahead of a summit of EU leaders.
Greece must repay a €1.6bn (£1.1bn) IMF loan by next Tuesday or face default. That could lead to Greece exiting the eurozone, with possible repercussions for the rest of Europe and the world economy. Only once agreement is reached will creditors unlock the final €7.2bn tranche of bailout funds for cash-strapped Greece.
After some early gains the euro has gone into reverse today. It currently buys $1.1178 down 0.24%. Shares in Frankfurt and Paris have given up early gains and are now trading lower. Greek shares are down around 2%.
“The Greek government remains firm on its positions,” a Greek official told reporters after two hours of overnight talks – following a seven-hour session earlier – in Brussels on Wednesday. European Commissioner Pierre Moscovici struck a hopeful tone ahead of Thursday’s talks, tweeting: “Where there’s a will there’s a way.”
