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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 681.89+0.3%Oct 31 5:00 PM EST

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To: GROUND ZERO™ who wrote (71942)6/15/2015 9:29:27 AM
From: Brian Sullivan  Read Replies (2) of 218290
 
EU-Greece Talks on Bailout Break Down, Setting Up Showdown
Greek Prime Minister Tsipras bets on securing better deal directly from eurozone leaders

BRUSSELS— Talks between Greece and its European creditors collapsed over the weekend, setting up a high-stakes showdown in which the country’s prime minister is gambling he can wrest a softer bailout deal directly from eurozone leaders.

The swiftness with which European officials dismissed the Greek government’s latest proposals on Sunday—calling them “vague and repetitive”—suggests Prime MinisterAlexis Tsipras is placing all of his bets on appealing for better terms to German Chancellor Angela Merkel and the 17 other eurozone leaders at a Brussels summit on June 25. If he fails, a default on the country’s debt and a possible exit from the currency bloc loom.

Ahead of the summit and a big debt payment due on June 30, Mr. Tsipras also risks triggering a run on banks by panicked depositors and being forced to restrict withdrawals and transfers of euros within and out of Greece. That could quickly create a situation beyond Mr. Tsipras’s and the government’s control, officials from the country’s creditors fear.
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