Categories: Fundamental Analysis

EU targets interim Greek debt deal by next week


BRUSSELS Tue Feb 10, 2015

(Reuters) – The European Union is aiming to clinch an interim debt deal with Greece at a meeting of euro zone finance ministers on Monday, with “low expectations” for a breakthrough at meetings of ministers and EU leaders this week.

Euro zone finance ministers, collectively known as the Eurogroup, meet on Wednesday and next Monday and EU leaders at a summit, or European Council, this Thursday.

“These are the next steps but for the time being we have low expectations that any final agreement will be tomorrow or at the European Council,” a Commission spokeswoman told a news conference.

An EU official later said the target now was to clinch an interim deal by Monday’s scheduled meeting of the Eurogroup in Brussels.

“This would give time for any ratification required by national parliaments before the current EU bailout deal expires on February 28,” the official said, although cautioned against setting “any fake deadlines”.

Greece is seeking a new debt agreement with the euro zone that will allow it to shake off much of the austerity imposed since 2010 by international lenders. The existing package expires at the end of February.

“Of course very intense contacts are ongoing between the (Commission) President, (Greek) Prime Minister Tsipras and all other players involved in the euro zone…. But up to this point all these contacts have not been very fruitful,” the Commission spokeswoman said.

Sources: reuters.com

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

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