Eurozone's finance ministers meeting has ended without an agreement on extending the Greece's bailout on late Wednesday. The next meeting is scheduled to be on Monday.
The tone was friendlier after a summit of European Union leaders in Brussels on Thursday. Greece's Prime Minister Alexis Tsipras said the EU leaders covered an important part.
The EU-IMF bailout programme expires on 28 February and Greece does not want it extended. Greek government would like to renegotiate the EU-IMF bailout programme.
Greek officials have said that the government risks running out of money in early March.
I think that the new government wants to test EU's limits. Finally, an agreement will be signed between Greece and its creditors.
Greek government needs money. Greek officials have said that the government risks running out of money in early March. Greek banks have been hurt by an outflow of deposits. They cannot use Greek government's bonds to get liquidity from the European Central Bank (ECB).
In my opinion, Greek officials were bluffing as they said that Russia and China had already offered financial support to Greece.
Russia's Finance Minister Anton Siluanov said that Russia hasn't received a request for help from Greece.
Russia's Foreign Minister Sergei Lavrov said on Wednesday that Russia would consider a request for financial aid from Greece if it came.
The EU leaders said that they do not want to sign a new agreement. Because nobody knows which effect Greek exit from the Eurozone would have on the Eurozone, it's likely that the EU leaders agree to a compromise.
I think that the most creditors understand that they will not get all their money.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2020 TeleTrade-DJ International Consulting Ltd
TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.
The company operates in accordance with Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
TeleTrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.