Surprise! Germany has begun to talk back their exuberant headlines over a Greek compromise. As Reuters reports, Germany will only accept a cash-for-reform deal between Greece and its international creditors that has the approval of all three lending instutions, a government spokesman said in response to reports that Berlin was considering easier terms, "all else is pure invention."
As Reuters reports,
Germany will only accept a cash-for-reform deal between Greece and its international creditors that has the approval of all three lending instutions, a government spokesman said in response to reports that Berlin was considering easier terms.
Asked about a Bloomberg report that said Chancellor Angela Merkel's government may be satisfied with Greece committing to at least on major economic reform sought by the creditors, the spokesman told Reuters: "Germany will only accept a proposal of the three institutions. All else is a pure invention."
The spokesman said Merkel and French President Francois Hollande would meet Greek Prime Minister Alexis Tsipras for an update on Greece's debt negotiations later on Wednesday after a inner at an EU-Latin America summit in Brussels.
Merkel said earlier that her message would be that Greece must negotiate with the institutions representing the creditors.
Tsipras, who has rejected several of the creditors' key conditions for a deal to unlock frozen aid, has been pressing for a "political agreement" among leaders to break an impasse in detailed negotiations.
* * *
EURUSD has faded back all of the headline gains... but for now US equity futures remain convinced.
[7]
Charts: bloomberg
