Deadline day for Greek debt decision approaches
- 9 years ago
Hard line rhetoric has been echoing in Athens all to the backdrop of a financial clock which is ticking at a heightened pace towards what could be the biggest default in world history.
But the clock could stop. Lithuanian Finance Minister Rimantas Sadzius said in an interview on Tuesday, “the European Union is all about compromise.”
That’s not making the headlines in Greece. “Hard ultimatum from the EU, 96 hours until an agreement or an accident,” screamed one.
“I don’t agree with the view that there was an ultimatum. An ultimatum has another meaning: that you have four days or else. There was no ‘or else’, but surely it won’t be for two more days. I think that it will be for al least five or 10 more days so that there is time for an agreement to be achieved,” opined Nick Kafkas Head of Research and Analysis for Merit Securities
First the ECB’s Governing Council will review the emergency funding for Greek banks on Wednesday. One source said there will be no sudden ending to it.
But the clock could stop. Lithuanian Finance Minister Rimantas Sadzius said in an interview on Tuesday, “the European Union is all about compromise.”
That’s not making the headlines in Greece. “Hard ultimatum from the EU, 96 hours until an agreement or an accident,” screamed one.
“I don’t agree with the view that there was an ultimatum. An ultimatum has another meaning: that you have four days or else. There was no ‘or else’, but surely it won’t be for two more days. I think that it will be for al least five or 10 more days so that there is time for an agreement to be achieved,” opined Nick Kafkas Head of Research and Analysis for Merit Securities
First the ECB’s Governing Council will review the emergency funding for Greek banks on Wednesday. One source said there will be no sudden ending to it.