The Greece situation probably isn’t going anywhere anytime soon.
A report from The Wall Street Journal on Monday afternoon said Greece’s international creditors have suggested extending its bailout program until March 2016.
Citing three people familiar with the negotiations, The Journal’s Gabrielle Steinhauser reports that as part of an extension, Greece would get access to €10.9 billion that had been set aside to recapitalize weak banks.
One source told Steinhauser, “What we offered would mean that Greece is fully financed until March 2016.”
Most recently, Greece and the IMF agreed to bundle the country’s payments to the IMF into one lump sum due at the end of June.
And earlier on Monday, Business Insider’s Mike Bird recapped some of the most recent Wall Street research on the issue, with the Street mostly agreeing that it doesn’t seem like the Greece drama is trending towards a resolution anytime soon.
Following the headlines, US stocks remained lower, but moved quickly off their worst levels of the day.
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