FXStreet (Bali) – Greek Prime Minster Alexis Tsipras may have gotten away with a key concession from the creditors, as bailout talks in Brussels continue overnight.
According to Politico’s reporter Stephen Brown: “An EU source said the mention of a temporary Grexit had been taken off the latest draft proposal being discussed by eurozone leaders – but could be put straight back if all else fails.”
The final paragraph of a the earlier draft read that “in case no agreement could be reached, Greece should be offered swift negotiations on a time-out from the euro area, with possible debt restructuring.” Greek officials said their response to this German proposal was “100 percent No.”
Meanwhile, Tara Palmeri, reporter at Politico, in her Twitter account, mentioned: “Greece says can’t pass legal system reforms and rules for dealing w/ bank failures by July 15, asks for week extension.”
(Market News Provided by FXstreet)