NEWSFLASH: The eurogroup has broken up without a deal, according to Finland’s finance minister.
And talks are going to restart at noon BST tomorow.
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The Greek government has just released a statement slamming the new proposal tabled by creditors.
They say:
- The Greek government delegation came to today’s negotiation based on the text of the proposal which institutions had accepted as a base of discussion on Monday.
- The institutions, for their part, tabled a new proposal which transfers the burden [of austerity] to wage earners and pensioners in a way which is socially unfair while at the same time suggesting measures to avoid the increase of burden on those who have (to give).”
- The Greek side cannot agree with such a [change of] direction. Negotiations are continuing at all levels.”
Veteran political commentator Alexis Papachelas predicated that the tough bargaining could continue all the way through to Tuesday when Athens must meet a debt repayment of €1.6bn euro to the IMF.
“I don’t think anything will happen tonight. There is a very negative climate … we should not be surprised by anything, this tough bargaining could continue all the way through to 11:45 on Tuesday,” he told Skai TV’s flagship news program.
“What worries me is not so much the drachma lobby in Greece but the drachma lobby that appears to be developing abroad.”
