Greek PM Ready to Hold Fresh Talks with Creditors

The Greek Prime Minister, Alexis Tsipras, is holding fresh talks with his country’s creditors as he tries to secure an urgent deal on Athens’ debt.

Greece must repay €1.6bn (£1.1bn) to the International Monetary Fund (IMF) by the end of the month, or face default and possible exit from the EU.

European Union leaders have broadly welcomed Greece’s latest proposals for reforms – but obstacles remain.

Eurozone finance ministers are due to finalise a deal on Wednesday evening. The agreement being formed is believed to include:

  • New taxes on businesses and the wealthy
  • Selective increases in VAT
  • Savings in pensions linked to curbing early retirement and increasing pension contributions
  • No further reductions in pensions or public-sector wages – “red lines” for Greece’s Syriza government

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza