Latest News from Greece
Greece considering bailout extension to March 2016, source says
Greece is considering accepting a bailout extension to March 2016 in order to win more time to come up with a comprehensive reform plan after five months of fruitless talks, an official Greek source said on Wednesday.
As part of deal to unlock sorely needed bailout cash, "we are discussing an extension of the current programme by nine months to March 2016," the source said.
Greece 'ready to discuss' concessions on budget targets, source says
Greece is prepared to discuss possible concessions on budgetary targets, a key red line in its bailout talks with its creditors, a Greek government source told AFP on Wednesday.
"It is very difficult for the Greek side to make more concessions, but we are prepared to discuss a solution," the Greek government source said.
Greek prices drop for 27th month
Greek consumer prices fell 2.1 percent year-on-year in May, with the annual pace of deflation unchanged from the previous month, data from the country?s statistics service showed on Wednesday.
Greece?s European Union-harmonized deflation rate slowed, showing prices fell by 1.4 percent in May from a 1.8 percent decline in April.
Tsipras and Juncker in new talks on reform plan
Greek Prime Minister Alexis Tsipras and European Commission chief Jean-Claude Juncker met Wednesday amid last-ditch talks on the country's disputed reform plan, a Greek government source said.
"The two leaders exchanged views in a detailed manner and in a constructive climate, and agreed to meet tomorrow," the source said.
ATHEX: Impasse in talks brings more losses
The Greek stock market?s benchmark returned to a southbound course on Wednesday, following another session of low trading volume, due to the lack of progress in negotiations between Greece and its creditors, while the sense that the entire market has been holding its collective breath for months now is palpable.
Bloomberg: Berlin offering Athens a ‘staggered’ deal
Germany, the eurozone’s paymaster, is reportedly considering an offer to the Greek government to free-up bailout funds in return for at least one reform demanded by creditors.
Bloomberg quotes two people it says are “familiar” Berlin’s position.
It’s not clear which reform the leftist Greek government would commit to as comprising the key to “seal the deal”.
Vulture funds circle Greece targeting Europe's best trading bet
By Katia Porzecanski & Julia Verlaine
The vultures are circling over Athens.
Even with Greece running out of cash, talks deadlocked over releasing more aid and the government's securities sliding in value, a handful of distressed-debt funds -- sometimes known as vulture investors -- see the chance for a big payday.
EU urges refugee action as over 1,000 migrants reach Greece
The European Union urged its 28 nations Wednesday to swiftly endorse its plan to relocate 40,000 migrants as 1,000 more migrants arrived in Greece in just one day.