Greek Prime Minister Alexis Tsipras says the creditor institutions in charge of Greece’s bailout haven’t accepted the proposals Athens put forwards on Monday, which were previously seen as a big step towards a deal.
That’s according to a Bloomberg headline flash.
Today’s meeting of eurozone finance ministers was the first that analysts and participants have seemed confident about in several months.
Some of Tsipras’ supporters in the Syriza movement that propelled him to power have been critical of the proposal Greece made on Monday, suggesting that it gave far too much away.
Athens is trying to unlock a €7.2 billion ($US8.2 billion, £5.16 billion) bailout tranche to make debt repayments on June 30 to the International Monetary Fund (IMF) and on July 20 to the European Central Bank (ECB).
Here’s Peter Spiegel in the Financial Times, explaining the importance of getting a deal immediately:
Without a deal by tonight, which would then be endorsed at an EU summit on Thursday, eurozone officials worry there will not be enough time for national parliaments to approve an extension of Greece’s current programme before it expires on Tuesday. Without an extension, the remaining €3.6bn in the EU’s portion of the bailout would disappear and Athens would likely default on a €1.5bn loan repayment due to the IMF on Tuesday.
Athens stocks slumped as the news broke: