Greece Pondering Last Minute Offer

The Greek government is in last-minute talks over whether to accept an offer that would let Greece repay part of its debt, local media say.

Greece is hours away from a deadline to repay a €1.6bn (£1.1bn) loan to the International Monetary Fund (IMF) – one it may miss.

The European Commission (EC), said it made a last-minute proposal of reforms on Monday.

If Athens accepts the deal, it will free up cash to repay the €1.6bn.

A European Commission spokesman said the EC’s president, Jean-Claude Juncker, was called by Greek Prime Minister Alexis Tsipras on Monday night.

Mr Juncker then offered Greece the latest deal, with a midnight deadline. That has since expired.
However, Greek media say the government is still in talks over the offer.

The national broadcaster, ERT, said on Tuesday morning that discussions about the proposals were taking place “at the highest level” in Athens.

via BBC

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