CityPress - - Business -

reece’s Prime Min­is­ter Alexis Tsipras in­sisted that a deal to avert a de­fault can be reached at an emer­gency sum­mit of Euro­pean lead­ers to­mor­row. This comes as his coun­try clings to the euro af­ter al­most five months of brinkman­ship. Mar­kets swayed as in­vestors ex­am­ined each new twist for signs of a pos­si­ble ac­cord. Bank stocks re­versed gains and led the Athens Stock Ex­change (ASE) lower on Fri­day as the Euro­pean Cen­tral Bank (ECB) pre­pared to dis­cuss whether to main­tain a life­line at an emer­gency ses­sion. Greece’s ex­ist­ing bailout agree­ment ex­pires on June 30, the day it is due to make a pay­ment to the In­ter­na­tional Mon­e­tary Fund (IMF).

“We aimed the fi­nal ne­go­ti­a­tions to take place at the high­est po­lit­i­cal level in Europe and are now work­ing for the suc­cess of this sum­mit. Those who bank on cri­sis and terror sce­nar­ios will be proven wrong,” said Tsipras.

While dis­cus­sions, dead­lines and ap­par­ent de­noue­ments have come and gone, the wran­gling over a deal to keep Greece afloat is at the sharp end.

Thou­sands of peo­ple as­sem­bled out­side the Greek Par­lia­ment build­ing in Athens last night ask­ing for the na­tion to be saved af­ter the gov­ern­ment blamed a con­spir­acy to black­mail Greece for the frus­tra­tion in Lux­em­bourg.

As the ASE stock in­dex rose as much as 1.1% be­fore fall­ing 0.2%, the yield on Greece’s two-year bonds de­clined by 10 ba­sis points to 28.56%.

Adult talk

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.