Greek Crisis: Tsipras Says ‘No Deal’ With Creditors

Greek Prime Minister Alexis Tsipras said his government’s proposed reforms have not been accepted by its international creditors, according to a statement from a source close to the talks.

The news dashes hopes of an imminent deal between the embattled Mediterranean country and its international creditors. Greece needs additional financial aid to prevent it from defaulting on its debts at the end of the month, but its lenders have refused to release funds without the implementation of more reforms.

European markets turned lower following the statement, with Germany’s Dax falling 1.2 percent and the Athens stock exchange down 3.3 percent minutes after the news emerged.

“Certain institutions insist in not accepting equivalent measures suggested by the Greek government,” Tsipras told his colleagues before departing to Brussels, according to the statement.
“The non acceptance of equivalent measures has never happened before. Neither in Ireland nor in Portugal. Nowhere!”

He went on to add: “This strange stance could be hiding one of two things. They either don’t want a deal or they are serving certain interests in Greece.”


Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.