Osborne sounds alarm over Greek crisis as EC gives May deadline- live updates


UK chancellor has warned that one misstep in the Greek debt negotiations could return Europe to the ‘perilous state’ of 2011 and 2012Osborne: Mood at IMF is ‘notably’ more gloomyEC: Greece must deliver by May 11Schauble: No deal soonEuropean stock markets fallingCity hit by Bloomberg outage 5.02pm BST After a day of heavy selling, European stock markets have all closed deep in the red tonight.The German DAX, Spanish IBEX and Italian FTSE MIB all tumbled more than 2%, as fears over Greece Read more [...]

European leaders hold meeting on Greek bailout – live updates


European leaders are gathered a European Council meeting, but there’s little sign of progress over GreeceLatest: Meeting underway nowGreeks warn of humanitarian crisisLiquidity fearsBond yields spiked today 11.11pm GMT Tonight’s meeting will set the scene for Monday, when Greece’s prime minister visits Berlin. The Wall Street Journal reports tonight that Angela Merkel is poised to “intervene directly in a deepening rift between Greece and its international creditors”. The chancellor’s Read more [...]

Greek PM intensifies diplomatic push – live updates


Rolling business and financial news, as Greece’s prime minister seeks talks with Angela Merkel, and announces he’ll visit Moscow a month earlyLunchtime summary: Tsipras pushes for meetingsGreek PM to visit MoscowTsipras wants 5-way talks at EU summitEurozone inflation confirmed at -0.3% 5.27pm GMT Greece has reacted with fury to Dijsselbloem’s comments raising the prospect of a Cyprus style bail-in on Greek banks, reports our correspondent in Athens Helena Smith.“It would be useful for all Read more [...]

Eurozone ministers meet to discuss Greek bailout – live updates


Rolling business and financial news, as eurozone finance ministers gather in BrusselsDijsselbloem: Greece must stop wasting timeMinisters start arriving.....Schauble: Greece must talk to the TroikaSummary: Another Eurogroup meetingGreek opposition: Varoufakis must be replaced 3.05pm GMT OK, all the eurozone ministers have arrived for this afternoon’s eurogroup.The running theme as they arrived was that Greece needs to hurry up and deliver firm reforms, so this could be a testy meeting...Eurogroup Read more [...]

Tough Talks On Greek Debt As D-Day Looms


20 February 2015, 1:54 Tough Talks On Greek Debt As D-Day Looms Tweet These could well prove the most important few days in the euro's existence. In the corridors and meeting rooms of the Justus Lipsus building in Brussels, Greece and its euro counterparts have been charged with discussing how to keep the struggling nation in the single currency. Their chances of success seem to be flagging. Quite how we got here is a complicated story - it involves political and economic mistakes, financial jiggery-pokery, Read more [...]

Greek bailout: Athens will ask for loan extension today – live updates


Rolling coverage of Greece’s battle to agree new funding before its bailout expires at the end of this month, plus the latest UK unemployment reportLatest: Here are Greece’s eurogroup proposalsAthens confirms request coming todayGreece keen to revive the “Moscovici plan” Will other governments accept it? Continue reading... Business | The Guardian Read more [...]

Greek bailout: Crisis escalates as eurogroup talks break up


Rolling coverage as the high-stakes negotiations over Greece’s financial programme hit problems, with eurogroup insisting Athens must ask for a bailout extensionLatest: Greece’s Varoufakis hits backSummary: crisis moves up a notchPress conference - highlights start hereTalks collapse after leakGreece rejects draft proposal 8.51pm GMT Peter Spiegel of the Financial Times says there’s confusion over why Greece would have signed the original draft statement prepared by Pierre Moscovici, but not Read more [...]