FXStreet (Córdoba) – After rejecting creditors’ proposal of extending the current bailout programme until November, Greek Prime Minister, Alexis Tsipras met his cabinet in Athens to prepare for the Eurogroup talks tomorrow.
According to media reports, Tsipras has confided in a fellow EU official that if the country’s creditors insist on sticking to pension and VAT red lines and if Friday’s bailout extension proposal is the final offer, he is prepared to call for snap elections tomorrow.
These are decisive hours for Greece as after five months of negotiations differences with lenders haven’t been closed. Athens could face default on Tuesday if it doesn’t seal a deal at tomorrow’s Eurogroup meeting.
Greek government has stated it will not be blackmailed and will not continue to oppress the nation with austerity measures. Greek finance minister Yanis Varoufakis said reaching a deal on Saturday depends on the creditors.
Meanwhile, Eurozone finance ministers are said to be discussing plans for emergency measures to secure Athens financial system and avoid contagion in case of no deal.
According to a leaked diplomatic document, UK PM David Cameron told an EU leader that it “might be better” for Greece to exit the Eurozone to allow it to fix its economy.
Saturday will be a decisive day for Greece and for the Eurozone.
(Market News Provided by FXstreet)