Last night we reported about a Greek rejection of a last minute proposal by Juncker. Now it seems they may be reconsidering according to fresh reports. Update: there is an official denial. But, as the saying goes: “never believe anything until it is officially denied” means that anything can still happen today.
EUR/USD is a bit higher on the news, but there is hesitation. It initially jumped to 1.1178 but is sliding again to the “magnet”: the Friday close at 1.1160.
Like yesterday, the report comes from Kathimerini which talks about fast moving talks in Athens. Perhaps a deal can be reached by midnight.
France is working hard to arrange a last minute deal and Greece would like to see the IMF out of the game.
The offer consists of a one month temporary extension, a pledge to look into debt restructuring in October 2015 and commitment by Tsipras to campaign for Yes in the Greferendum.
Forex Live reports that Greece cancelled a press conference as Tsipras may be working to strike a final deal with the troika. At the moment, the Greek finance ministry says it doesn’t know about it.
It will be interesting to watch the debt restructuring portion of the proposal: if debt relief is officially promised, this would pose a problem for Germany.Get the 5 most predictable currency pairs