Today's "final" Eurogroup meeting is yet another "last" chance for Greece to stay in the Euro according to Greek headlines [13]. The meeeting begins in minutes, at 12:30pm CET/7:30am Eastern so expect the usual torrent of "Greek deal" headlines which send the S&P surging followed by prompt denials which the S&P algo soundly ignore. By now the game is quite familiar to everyone.
A snapshot of the just commenced latest Greek Eurogroup meeting. Will it be last one?
#Greece [14]- #Eurogroup [15] begins pic.twitter.com/sCBRMsQFrE [16]
— Frederic Jung (@Frederic_Jung) July 7, 2015 [17]
Here are some of the soundbites as the Euro finmins are unloaded:
- Schaeuble Says He’s Waiting ‘With Excitement’ For Greece’s Offer, asked if Greece can keep Euro says, must ask Greek government.
- Germany's Gabriel says elite in Greece has plundered country for years, Europe just watched it happen
- Finnish FinMin Stubb says - Euro Zone not looking at bridge finance for Greece 'at this stage'
- Belgian Finance Minister Says Greek Banking System in ‘Freefall’
- Dombrovskis Says Grexit Can’t Be Excluded If No Credible Plan
- Slovak finance minister says nominal debt relief for Greece impossible
- Moscovici Says We need to prepare future with Greece in the eurozone and to avoid Grexit
As we said, the usual. And for those who are just catching up, courtesy of Reuters and Bloomberg here are the latest headlines over the past 12 hours (all times GMT):
- 1125 - Malta's Sciluna says it's time to be prepared for a well-managed Grexit, says we have received absolutely no proposals from Athens
- 1113 - US stock index futures pare gains after Finnish finance minister says Eurozone not looking at bridge finance for Greece "at this stage"
- 1058 - German Finance Minister Wolfgang Schaeuble says debt writedowns are not possible under bailout rules.
- 1051 - Russian Economy Minister Alexei Ulyukayev says Greece has not asked Moscow for financial help, although the two have discussed joint investments.
- 1024 - Proposals that Greece will present on Tuesday do not differ significantly from the reform plans that Greeks rejected in a referendum on Sunday, Germany's Sueddeutsche Zeitung says, without citing a source.
- 1021 - Fifty percent of French people want Greece to leave the euro zone, according a survey by pollster Odoxa in daily Le Parisien.
- 0952 - Europe could talk about reducing Greece's debt burden if the Greek government shows it is implementing economic reforms, German Vice Chancellor Sigmar Gabriel tells Stern magazine.
- 0904 - European Parliament head Martin Schulz says he is in favour of Greece staying in the euro zone, having said on Sunday it might have to introduce another currency if its voters rejected bailout terms.
- 0800 - The Athens stock exchange will remain shut until Wednesday, the Greek Capital Markets Commission said, in line with the closure of the country's banks.
- 0711 - European Commission President Jean-Claude Juncker says the ball is in Greece's court to come forward with proposals to resolve its debt crisis.
- 0711 - A unified negotiating stance from Athens should ensure that Tuesday's euro zone summit makes more progress than the last round of Greek debt talks, Germany's EU commissioner Guenther Oettinger says.
- 0627 - Euro zone governments could consider writing off some of Greece's debt if Athens commits to a package of reforms, Luxembourg's Finance Minister Pierre Gramegna says.
- 2055 - European Central Bank's Governing Council member Ewald Nowotny says bridge funding is a possibility for Greece while a new bailout programme is being negotiated.
- 1958 - Tsipras spoke to ECB told Mario Draghi there is an immediate need to lift capital controls, a government official says.
- 1947 - International Monetary Fund chief Christine Lagarde told Tsipras the institution cannot provide funds to countries that have missed payments to it, an IMF representative says.
- 1927 - Spanish Prime Minister Mariano Rajoy say negotiations with Greece must continue but be concluded quickly.
- 1912 - The ECB demanded an increase of around 10 percent on some Greek bank collateral offered for emergency funding, although the overall impact of the change is set to be limited, a Greek banking source says.
- 1822 - Euro zone countries are open to discussing a new programme for Greece, Italy's economy minister says.
- 1745 - The European Central Bank says it will keep emergency liquidity assistance to Greek banks steady and says it will use all instruments in its mandate to preserve financial stability.
- 1729 - German Chancellor Angela Merkel and French President Francois Hollande, meeting in Paris, urge Greece to quickly make "serious" proposals to reach a cash-for-reform deal.
- 1714 - The White House says Greek and European leaders should seek a compromise that allows Greece to remain in the euro zone.
