Athens government

In his first major interviews since stepping down as Greece’s FinMin, Yanis Varoufakis reveals that he recommended the imposition of a parallel current and a ‘haircut’ of ECB bonds.

The head of the Bank of Greece warned bankers last week to brace for a «difficult day» on Tuesday if the Athens government does not reach a deal with creditors at an emergency euro zone summit on Monday, two senior bankers told Reuters.

A senior member of parliament in Chancellor Angela Merkel's conservative Christian Democrats (CDU) said on Tuesday that a Greek exit from the eurozone would have to be accepted if the Athens government does not present a solid reform package.

By Renee Maltezou & Andreas Rinke

Greece and its creditors stuck to their positions on Monday after the collapse of talks aimed at preventing a default and possible euro exit, while Germany?s EU commissioner said it was time to prepare for a ?state of emergency.?

Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel will hold talks Wednesday in Brussels as a part of the high-level meeting between representatives of the EU and Latin America.

Ruling SYRIZA party’s far-left wing and “internal opposition” reared its head on Monday evening through a high-pitched article on an affiliated website, charging, among others, that the country’s creditors demand “Greece’s unconditional surrender within the next two days.”

The WSJ reported on Monday evening (Athens time) that Greece’s institutional creditors are eyeing the possibility of extending a bailout program until the end of March 2016.
The “fresh cash” would come from 10.9 billion euros set aside under the previous bailout for recapitalizing weak Greek banks, sources said.

There has been some progress in talks with Greece on more funding in exchange for reforms, but not enough, European Commission President Jean-Claude Juncker said on Thursday.

By Corina Ruhe

Eurogroup Chairman Jeroen Dijsselbloem said there?s a ?long way to go? to strike a deal on Greece?s aid proposals even after the Athens government responded to demands for more detail on its bid to end the deadlock.

By Jeff Black, Rebecca Christie & Radoslav Tomek

The European Central Bank made more than 1 billion euros ($1.1 billion) of extra funding available to Greek banks as euro-area finance officials told the Athens government it?s time to prove it can be trusted.