Greece on ‘Brink of Disaster;’ Calls Emergency Meeting

Greece’s Prime Minister Alexis Tsipras is to hold an emergency government meeting at midday London time to discuss the failure of the latest round of discussions with its creditors to help stop the country tumbling into bankruptcy.

Tsipras will meet with Deputy Prime Minister Yannis Dragasakis, State Minister Nikos Pappas and Alternative Foreign Minister for International Economic Relations Euclid Tsakalotos in the wake of the breakdown of negotiations in Brussels at the weekend, a government spokesman confirmed.

Talks between Greece and its creditors over the weekend yet again failed to resolve the impasse over reforms, with European officials blaming Greece for failing to offer concessions in return for a final tranche of desperately-needed financial aid.

CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.