GREECE: WE HAVE JUST HOURS TO STRIKE A DEAL

The Doomsday Clock at 6 minutes to midnight

Photo: Flickr | El_Enigma

ORIGINAL POST, SATURDAY 4 PM: Just like old times: Will they get a deal done before the Asian markets open?REUTERS:

Greece has just one day left to strike a deal with impatient lenders and reluctant political party leaders on a 130 billion rescue plan before the country is pushed towards a chaotic default, its finance minister warned on Saturday.

In an apparent warning to Greek political leaders opposing key reforms, Finance Minister Evangelos Venizelos said the patience of European partners and the International Monetary Fund footing the bill for Greece’s bailout was wearing thin.

“There is great impatience and great pressure not only from the three institutions that make up the troika but also from euro zone member states,” Venizelos said after what he called a “very difficult” conference call with euro zone counterparts.

The most remarkable thing about this is the the indifference of the market to all this. We keep trying to imagine what the market would be doing if these headlines had come from last November.

(Via @alea_)

UPDATE, SUNDAY 7:00 AM: The clock is ticking and there’s still no talks. Talks are due to begin within hours.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.