Greece to Present New Reform Plan as Part of EU Meeting Outcome

EU leaders say Greece has agreed to come up with a new reform plan within days to secure the additional bailout funds required to prevent bankruptcy.

The development came after marathon talks between Greek PM Alexis Tsipras, German Chancellor Angela Merkel and other European leaders in Brussels.

Mr Tsipras said he was now “more optimistic” after the meeting.

Separately, the EU leaders agreed to keep sanctions on Russia in place until the end of this year at the earliest.

The sanctions, imposed because of Russia’s alleged military intervention in Ukraine, are now linked to “complete implementation” of a ceasefire deal.

The middle-of-the-night talks between Mr Tsipras, Ms Merkel, French President Francois Hollande and leaders of the EU institutions lasted for more than three hours. They were organised on the sidelines of an EU summit in the Belgian capital.

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