UK's Guardian reports that the differences are narrowing in negotiations
Guardians Ian Traynor in Brussels is saying that a deal is edging closer and that the differences are now minimal in negotitations
- The pensions issue is resolved and VAT differences amount to peanuts amounts
- Creditors are still demanding €400m in defence cuts while Greece is saying €200m
- Privatisation agreements have been formalised
An EU source says that it's ridiculous for Greece to block an agreement on so little
Not the reaction I would have been expecting from the Euro as it falls 30 odd pips to 1.1177
There's also a note that Tsipras would have to get any deal pushed through parliament on Sunday to get the 5 month bailout extension by Tuesday
If this is the deal that we're going to get it's just another can kick and far from a final solution and that's what the market could be getting disappointed about. All it leads us to is more months of Greece having to hit targets before getting drip-fed more money
A full solution this is not
Tsipras is speaking and saying that he will continue to fight on EU principles and EU principles are not based on blackmail or ultimatums. So maybe we're not so close to a deal after all. Junker is speaking at a press conference now
