Rolling business and financial news, as Greece scrambles to put together a plan to unlock funds from its creditorsGreece: We’ll present reforms by MondayThe Agenda: Greece, and UK inflation 8.12am GMT Greece’s three-year government bonds are strengthening, a little, on the back of today’s comments from Athens, and from Martin Schulz:#Greece's yields drop as EU's Schulz sees deal with #eurozone likely this week. http://t.co/8m2gsl6YDh pic.twitter.com/XiXoBTvVdD 8.07am GMT Another optimistic sign - European Parliament chief Martin Schulz has predicted that Greece and its creditors could secure a breakthrough this week.He told Italy’s La Repubblica that:“I think by the end of this week a new deal will be reached that should be sufficient to release the most urgent financing,” 7.58am GMT Alexis Tsipras is still in Berlin, and due to meet with the leaders of Germany’s opposition Left and Green parties. 7.58am GMT Germany’s Deutsche Welle newspaper reports that Angela Merkel and Alexis Tsipras spoke until almost midnight about the situation in Europe, at their ‘working dinner’Chancellor Merkel’s spokesman Steffen Seibert told reporters late last night that:“The chancellor and the Greek prime minister had a comprehensive discussion in a good and constructive atmosphere about the situation in Greece, the procedures of the European Union and future German-Greek cooperation,” 7.43am GMT News from Athens: Greece will present a new reform programme to its creditors by next Monday, potentially unlocking bailout funds and averting the risk of bankruptcy.The news comes less than 12 hours after prime minister Alexis Tsipras and Angela Merkel ended their talks in Berlin. Greece will present its proposed package of reforms to its euro zone partners by next Monday in hopes they will release much needed cash, its government spokesman said on Tuesday.“It will be done at the latest by Monday,” government spokesman Gabriel Sakellaridis told Mega TV.Greece plans present its proposed package of reforms to the eurogroup on Monday. So, see everyone in Brussels for a late night Tuesday? Mon? 7.37am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.Today we’ll be assessing the situation in Greece after yesterday’s visit by Alexis Tsipras to meet Angela Merkel. China HSBC PMI 49.2 adds to jan/feb soft data. Suggests gdp below 7pct. Ditto Q2, and of course, rate and RRR cuts soon, infra sp laterOur European opening calls: $FTSE 7021 down 16 $DAX 11863 down 33 $CAC 5042 down 12 $IBEX 11446 down 7 $MIB 23049 down 8 Continue reading...
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