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Original post: A quick update on Greece, the only story that matters…There’s an AFP report (via Mish) that’s rather cryptic, but it basically says that a compromise between Germany and the ECB was currently off the table. We’re not sure what to make of it. It’s just out there.
Then there’s a Bloomberg story saying that the next slug of cash to Greece may only be half as big as previously planned, with the goal that the country avoids an imminent default, with the rest of the cash coming when actual spending cuts are passed.
Update: Elsewhere, AFP reports that G7 Finance Ministers are holding an emergency meeting on Greece over the phone tonight!
Update 8:21 PM ET: Via Bloomberg, the finance minister of Belgium has confirmed that Euro-era finance ministers have NOT yet come up with a deal for Greek aid.
However, after a meeting in Luxembourg, according to Reuters, they did express a desire to pursue private sector contributions to the Greek deleveraging.
The good news: Asian markets are mostly up.
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