All the latest business and financial news, as concerns grow that Greece won’t reach a deal with its creditors in time 8.27am BST Greek fears appear to be weighing on the euro this morning. The single currency has lost half a cent against the US dollar in early trading, to $1.1398.Greece will be front and centre this week as the country looks to secure a deal with its creditors while avoiding harsh austerity. 8.19am BST Greece’s government remains optimistic of a deal soon, perhaps at a summit meeting of EU leaders in Riga on Thursday and Friday.Nikos Filis, spokesman for the parliamentary group of Prime Minister Alexis Tsipras’s Syriza party, told the Mega TV that:“We’re striving for a mutually beneficial agreement by Friday.“Our mandate from the Greek people is to reach an agreement where we stay in the euro area without harsh austerity measures.” 8.08am BST Good morning, and welcome to our rolling coverage of the world economy, the financal markets, the eurozone and business.Leaked #IMF confidential memo on #Greece. /via @paulmasonnews pic.twitter.com/UFeqGKlWahGreece came so close to defaulting on last week’s €750m International Monetary Fund repayment that the prime minister warned IMF chief Christine Lagarde he could not pay it without EU aid.Athens ultimately made the payment without financial assistance from the bloc but only by tapping a rarely used emergency account Greece holds at the fund — an unorthodox transaction that amounted to borrowing IMF funds to pay the IMF.How long can #Greece carry on? There’s not much left over to make even small(ish) payments due to #IMF in June. (BBG) pic.twitter.com/mDESz6Xoge Continue reading...
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