Latest News from Greece

Vangelis Giakoumakis's death now treated as murder

A prosecutor in Ioannina, northwestern Greece, has turned an investigation into the apparent suicide of student Vangelis Giakoumakis into a murder case.

The prosecutor has issued charges of murder and grievous bodily harm, according to Dimitris Boukas, the lawyer representing the student?s family.

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.

Tsipras to meet Merkel, Hollande, late Wednesday

German Chancellor Angela Merkel and French President Francois Hollande will meet with Greek Prime Minister Alexis Tsipras on the sidelines of a European Union summit, an official German spokesperson said on Wednesday.

Merkel, Hollande to tell Tsipras to talk to creditors, says spokesman

Germany will only accept a cash-for-reform deal between Greece and its international creditors that has the approval of all three lending instutions, a government spokesman said in response to reports that Berlin was considering easier terms.

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.

Moscovici: Deal between Athens, creditors close

EU Economics Affairs Commissioner Pierre Moscovici spiked the increasingly improved climate between Athens and creditors that suddenly emerged on Wednesday, saying he believes, “more than ever”, that a deal was possible to finally unblock bailout cash for a cash-strapped Athens.

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.

Merkel faces growing dissent in own party ranks over aid for Greece

By Paul Carrel

German Chancellor Angela Merkel is facing growing opposition among her ruling conservatives to granting Greece any further bailout funds, increasing pressure on her to drive a hard bargain with Athens.

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.

Germany said to consider offering Tsipras staggered deal on aid

Chancellor Angela Merkel's government may be satisfied with Greece committing to at least one economic reform sought by creditors to open the door to bailout funds, according to two people familiar with Germany's position.

ECB said to raise Greece's ELA ceiling by most since February

By Karl Stagno Navarra, Christos Ziotis & Alessandro Speciale

The European Central Bank raised the level of emergency cash available to Greek banks by 2.3 billion euros ($2.6 billion), people familiar with the decision said.

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