German Chancellor Gives Greece Before Monday Open Deadline

German Chancellor Angela Merkel told European center-right party leaders on Thursday there must be a debt deal with Greece before financial markets reopen next Monday, two participants in the meeting said.

She also told the closed-door meeting of leaders of the European People’s Party before an EU summit in Brussels that Germany “will not be blackmailed” by Greece, they said.

Other participants in the session declined to confirm what Merkel had said.

Euro zone finance ministers later suspended talks on a cash-for-reform deal to avert a looming Greek default next week and agreed to resume efforts on Saturday morning, a euro zone official said.

via Reuters

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 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