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Greek PM Requests Meeting With Top European Leaders

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Greek Prime Minister Alexis Tsipras has requested a meeting with top European leaders including German Chancellor Angela Merkel at this week’s EU summit, a Greek official said on Tuesday, as Athens insisted it would not be ‘blackmailed’ over its debt crisis.

Greece is at risk of running out of cash within weeks but its EU partners, angered by the new government’s fiery rhetoric against its international bailout, have frozen financial aid until it shows evidence it is implementing reforms.

The leftist government was elected in January on a promise to scrap the bailout, widely hated for imposing years of austerity on Greeks, but was forced after acrimonious negotiations to accept a four-month extension to the end of June.

 
With tensions still running high, Greece attacked comments by Jeroen Dijsselbloem, head of the Eurogroup of euro zone finance ministers, who said that pressure on Athens was growing and it would only get an emergency loan if it made real progress on reforms.

He said he wanted to stop things from going as far as they had in Cyprus in 2013, when “the banks were closed a while, and capital controls – cash flows in the country and out of the country were tied to all manner of conditions”.

via Reuters

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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

@alfonso_forex

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