While markets remain in "well it is Europe and it's OPEX so BTFD" mode, entirely ignorant of what Goldman describes as the risk of a systemic shock, the EU-Greece negotiations continue... to go badly. As Bloomberg reports:
- *EU OFFICIAL SAYS GREECE DEAL FRIDAY NIGHT LOOKING UNLIKELY
In fact, the official dropped his expectations so low as to say "it is possible that they could agree on progress." Which at least is one better than the no-progress meeting last week.
As Bloomberg reports,
It’s looking unlikely that euro-area finance ministers will be able to reach a deal Friday night on extending Greece’s bailout program, EU official says.
Euro-area ministers may have long meeting that isn’t conclusive
Ministers might be able to agree on statement of progress, with some commitments from Greece
Progress statement could pave way for more technical work and ministers could, if needed, have conference call on Sunday or Monday
EU official comments in Brussels, asking not to be named because talks are private
* * *
It seems suddenly markets have awoken...
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