Greek prime minister has held talks with the German chancellor in Berlin, as pressure grows to meet its creditors’ demands.Summary: Smiles, but any progress?Instant reactionTsipras visits Berlin - highlights start hereVideo: A guard of honour for Greek PM 7.09pm GMT Angela Merkel is an old hand at this eurozone crisis - and that press conference was an object lesson in sticking to Germany’s position without sounding too unreasonable.Her key message, swiftly tweeted by spokesman Steffen Seibert, is that the talks took place in “a spirit of loyal cooperation”. Kanzlerin #Merkel nach Gespräch mit griech. MP @atsipras: Wir haben die Gespräche im Geist der vertrauensvollen Zusammenarbeit geführt.“We want Greece to be strong economically, we want Greece to grow and above all we want Greece to overcome its high unemployment.”#Tsipras says that the German reparations is a moral issue and both countries have to work on the solution.is this the first time a foreign leader has stood up in the kanzleramt alongside a chancellor and demanded war reparations from germany?Merkel: Question of wartime reparations politically and legally concluded BUT #Germany aware of horrors of Nazi occupation in #Greece.It is better to talk with one another than about one another.”Outrageous math: #Merkel + #Greece + Power = Nazi. @DerSPIEGEL puts equation front & center http://t.co/C2wMT7ZQXJ pic.twitter.com/iYBb5kRnN1Although there are 80 million people living in Germany and we are the biggest economy in the European Union, this Europe is built on the principle that each country is equally important - no matter how many residents it has. 6.55pm GMT Greek politicians were quick to dismiss any sense that real progress had been made at today’s talks (reports Helena Smith from Athens).“Mrs Merkel, of course, couldn’t say I will give you money as that is the job of creditors but she could have said ‘I am much more optimistic after these talks’ and she didn’t.” “We want to collaborate in the best way and with mutual respect.” “Not a single euro is being disbursed by Europe. In the next few weeks Greece will default unless it enacts reforms immediately.” 6.49pm GMT Alexis Tsipras (or his media team), have just tweeted that the Greek PM was ‘incredibly moved’ by the solidarity demo outside the German chancellery.Στο Βερολίνο συναντηθήκαμε με την κ. #Merkel. H συγκέντρωση αλληλεγγύης Ελλήνων & Γερμανών μας γέμισε δύναμη. #Greece pic.twitter.com/W5u2VWtB2P 6.35pm GMT If you missed the press conference, highlights start at 5.31pm GMT. Here’s some instant reaction:Verdict tonight's talks: #Tsipras pulled out all plugs on charisma front to court #MerkelToday's meeting between Merkel / Tsipras was always about aligning messages: saying publicly conciliatory things in front of own electoratesSo #Merkel played down all expectations, hinted at long-lasting negotiations and provided no concrete talks' details. This is not over yet.It's over. Both #Merkel and #Tsipras look relieved that neither of them said anything that required an immediate punch in the face. 6.13pm GMT And here’s that handshake:Looks like it was a good meeting. Conciliatory tone by Tsipras, very different that his statemnts in #Greece. #Merkel pic.twitter.com/isBF9dZs57 6.12pm GMT And that’s it. Angela Merkel thanks the press for coming, and the two leaders then pose for photos with a genuinely friendly-looking handshake. 6.07pm GMT An upbeat-sounding Tsipras says that today’s meeting could be the first stage in a ‘new relationship’ between Greece and Germany.@ekathimerini #Tsipras "I didn't come to #Germany for economic aid but to discuss and find common ground" #Merkel 6.06pm GMT Alexis Tsipras leaps to Angela Merkel’s defence at the next question, about Der Spiegel’s front page showing the chancellor superimposed alongside Nazi officers outside the Acropolis (there’s a copy here).Such caricatures are wrong and unjust, he says. Angela Merkel is a very positive person who wants to listen and exchange ideas.#Tsipras describes @DerSpiegel cover as "provocation" that was unfair to Merkel and the German people.#Greece #Tsipras: "you can't identify today's Germany with crimes of Third Reich" 6.02pm GMT All Europeans are equal, says Angela Merkel - and Germany has an interest in having good relations with all member states including Greece. 6.02pm GMT We’re hearing a lot about the second world war...Way too many WW2 questions in this #Tsipras-#Merkel press conference. One does not build a European future with a rear-view mirror. 6.00pm GMT Chancellor Merkel adds that she and Alexis Tsipras spoke about the “Future Fund” today.That’s an initiative created last year to fund socio-economic co-operation and build better relations between the two countries. 5.58pm GMT #Greece #Merkel not many Germans know about pain of what Greece suffered during WWII, says chancellor "we won't ignore it as an issue" 5.56pm GMT Merkel also acknowledges the suffering of Greece during the second world war:#Merkel "The issue of WWII reparations is closed from a political point of view but we are aware the terrible conditions in #Greece then" 5.56pm GMT The next question is on Greece’s demand for war reparations.Alexis Tsipras replies that no-one in the Greek government intends to start confiscating German assets in Greece (as was reported last week).#berlin merkel with tsipras: @tsipras_eu standing beside merkel demands war reparations#Tsipras "Greek gov't has no intention of seizing any German state-owned property in #Greece" #Merkel 5.52pm GMT Onto the Question and Answer section....What progress has been made today, and was Angela Merkel convinced by Greece’s proposals? 5.50pm GMT 5.49pm GMT European treaties must be respected, says Tsipras. And Greece will meet its commitments, but with one important condition -- there must also be social justice. 5.48pm GMT Alexis Tsipras turns to fixing the mistakes of the past. Greece needs a new policy mix, he tells the press conference, including big structural reforms to fight tax evasion and corruption.#berlin merkel with tsipras: professor tsipras delivering a lecture on the last 5 years 5.45pm GMT Social inequality has grown in Greece, says Tsipras, touching on the humanitarian crisis that grips the country.But it would be wrong to simply blame foreigners. There are also internal reasons for Greece’s plight. 5.43pm GMT Tsipras wins the prize for understatement of the day, telling the assembled press that Greece has not been a success story since its first bailout in 2010. 5.42pm GMT #Tsipras "As #Merkel told me on the phone the other day, it's better for us to talk to each other than let others talk about us" #Greece 5.41pm GMT Tsipras remembers his manners, saying he would like to thank chancellor Merkel for giving him the chance to exchange views on the future of Europe. 5.40pm GMT 5.40pm GMT Now Tsipras is speaking -- saying that today’s meeting is helping the two leaders to understand each other better.#berlin merkel with tsipras: @tsipras 'this meeting is especially important for us to understand one another better' 5.40pm GMT It’s begun: Merkel is not smiling, Tsipras is. 5.40pm GMT Merkel adds that Greece needs structural reforms and a solid budget, as the foundations for a return to growth. 5.37pm GMT #Merkel: We want a strong Greece, with growth, and that unemployment, especially among the youth, is reduced. #Tsipras 5.37pm GMT 5.37pm GMT We want Greece to be strong, pledges Merkel, with its economy growing and unemployment falling. 5.36pm GMT It’s not up to Germany to evaluate Greece’s reform bill, says Merkel - that’s the role of the entire eurogroup (finance ministers from across the eurozone). 5.34pm GMT Germany and Greece have close ties, Merkel says. Many Greek people live in Germany, and millions of Germans enjoy holidays in Greece. 5.33pm GMT Angela Merkel is speaking first, explaining that she and Alexis Tsipras have discussed issues related to the whole eurozone, as well as bilateral issues. 5.33pm GMT 5.31pm GMT Angela Merkel and Alexis Tsipras have just emerged from their talks to hold a press conference in the Berlin chancellery.It’s being streamed live here (right-click to open in a new window). 5.26pm GMT We may need to brush up on our German and Greek....No English translation at Tsipras/Merkel presser, so will have to content myself w/ subtle analyses of body language. pic.twitter.com/CkHOiPfeBa 5.22pm GMT Another snap from this afternoon’s meeting: 5.20pm GMT And here’s a photo from the meeting, which is taking place right now:#Merkel's side of the table seemed to have more folders out in front of them than the #Tsipras side pic.twitter.com/8QlbadTMlv 5.19pm GMT Angela Merkel has shown Alexis Tsipras around the government offices, complete with a rather fine clock.Kanzlerin #Merkel empfängt griech. MP @atsipras im Kanzleramt, Pressekonferenz ca. 18.15: http://t.co/0lQLkkBo9l pic.twitter.com/1t8RgXUVBh 5.15pm GMT Alexis Tsipras didn’t get special treatment on his flight from Athens, it appears:Greece's prime minister Alexis Tsipras sitting "coach" on his way to his meeting with Merkel.. pic.twitter.com/bLfYak4MHB 5.10pm GMT Journalists are gathering in Berlin ready to hear from Angela Merkel and Alexis Tsipras.I thought the press conference didn’t start for another 50 minutes - perhaps it’s going to be earlier.....Colleague @NikStilz posts pic, waiting for Tsipras-Merkel news conference #Greece #Germany pic.twitter.com/ojbmfzp7eU 4.57pm GMT Here’s a video clip of Greece’s anti-austerity prime minister being loudly serenaded down the red carpet by a German military band, on his way to push for debt assistance and war reparations.....The video of the first meeting between #Merkel and @atsipras in Berlin pic.twitter.com/J6HkJHjtoT 4.47pm GMT Mario Draghi continues to field questions in the European Parliament, but he’s changed hats - he’s now there as head of the European Systemic Risk Board.He has just told MPs that Greek banks are solvent ‘at present’, and denied that there is a systemic risks within the eurozone any more.Did the interpretor just say 'austericide'? Great word. 4.40pm GMT Tonight’s meeting between Merkel and Tsipras probably won’t yield a breakthrough on Greece’s funding problems, but it might help the two leaders build a better relationship. As Wolf Piccoli of Teneo Intelligence writes: Merkel is eager to avoid the political solution Tsipras desires; she has no interest in circumventing the more technical institutions such as the ECB and the Eurogroup. The meeting will at best help both leaders to improve their personal relationship – which might turn out to be crucial in the coming weeks in which Greece’s future in the eurozone will be at stake. If anything, tonight’s working dinner might provide both sides a chance to come closer to a deal on reparations for German atrocities committed in Greece during WWII. 4.38pm GMT Back in the City, the FTSE 100 has closed at a new record high; up 15 points at 7037. 4.35pm GMT Greek insiders say Tsipras will almost certainly include privatisations in the list of reforms he will propose to Merkel tonight.“The prime minister will say the Greek government has to be in charge of structural reforms and not any other body outside of Greece.” “The time for statements is over, now is the time for work.” 4.17pm GMT #Germany's Merkel welcomes #Greece’s #Tsipras with military honors in Berlin. 4.12pm GMT The two leaders reviewed an honour guard during the welcoming ceremony at the chancellery in Berlin: 4.09pm GMT Welcome to Berlin, Alexis.... 4.04pm GMT And here’s Alexis Tsipras -- he’s been greeted by Angela Merkel and the pair are now heading into the chancellery.#Merkel meets @atsipras now in Berlin pic.twitter.com/rfUIq9zzRz 4.03pm GMT Another shot of Angela Merkel waiting for the arrival of the Greek prime minister at the chancellery in Berlin... 3.59pm GMT The red carpet is down, the military are assembled....and Angela Merkel is ready to receive Alexis Tsipras in Berlin.#Merkel now pic.twitter.com/tti1d7RGJM 3.53pm GMT Optimism among eurozone citizens has hit an eight-year high, in another signal that Europe’s economy is picking up.Consumer confidence rose to -3.0, Eurostat reports, up from -6.7 in February.CHART: Euro-area consumer confidence at 8y high - RECOVERY instead of DEFLATION. Here's why: http://t.co/8eppBp2Raf pic.twitter.com/7dwjVwAfqs 3.39pm GMT Angela Merkel has just arrived at the chancellery, reports Efi Koutsokosta of Euronews, unhampered by those demonstrators. 3.29pm GMT The Greek stock market has finished the day up 3%, as Athens traders clung onto their early optimism. Bank shares jumped around 10%.Stock market closes up 2.97% #Greece HT @naftemporikigr pic.twitter.com/8FQew6zTL3 3.24pm GMT Germany’s left wing Die Linke party are also taking part in the demonstration outside the Berlin chancellery:Die Linke showing their support for @tsipras_eu outside the German chancellery. His visit kicks off shortly. pic.twitter.com/WoZYd7us60 3.17pm GMT Germany loves Greece #flashmob #berlin #greece http://t.co/t4qWmssvtt pic.twitter.com/dyCJyH3VUH 3.08pm GMT A crowd has gathered outside the Chancellery in Berlin, as Angela Merkel prepares to meet Alexis Tsipras.But they’re not protesting against Greece. This is a rally for ‘good German Greek cooperation’, with banners reading “Germany loves Greece. 3.03pm GMT 3.02pm GMT Mario Draghi has slapped down claims that the European Central Bank is blackmailing Greece, during his session in Brussels.An MEP criticised the ECB for dropping the waiver that allowed it to accept Greek debt as collateral, and for not including Greece in its QE programme.Draghi: 'Let me disagree with just about everything you've said'oh the blackmail question! Draghi: ECB has the biggest exposure to Greece in Eurozone, accounting for 65% of Greece's GDP.#Draghi:There will be time when we'll be able to reinstate the waiver and do QE for Greece but conditions not there yet,but we are confident 2.55pm GMT No pressure, Alexis and Angela, but the world’s financial markets are hoping for some progress this week over Greece’s debt woes.As Ed Atkins, Treasury strategist at RBS Securities in Stamford, Connecticut, put it to Reuters: “This is an incredibly important week for Greece. The level of anxiety could run high but there is still optimism there will be a resolution between Greece and its creditors.” 2.49pm GMT Draghi: The Greek government should commit to fully honour its debt obligations to all its creditors 2.42pm GMT Draghi adds that the ECB would willingly restore the waiver that allowed it to accept Greek sovereign debt as security.But first, it must be confident that Greece’s bailout review will conclude successfully.Draghi: We are ready to reinstate the waiver as soon as the conditions for a successful conclusion of the review are in place 2.40pm GMT Back at the European Parliament, Mario Draghi has defended the ECB’s handling of the Greek crisis (having recently refused to accept Greek bonds as collateral for loans).We’re simply following the rules, he says.Draghi: ECB is a rule-based institution. We are not creating rules for Greece or anybody else, we are simply observing existing rules#Draghi on #Greece: What is needed is process that restores policy dialogue btw Greek govt and institutions“Growth is gaining momentum. The basis for the economic recovery in the euro area has clearly strengthened. This is due to in particular the fall in oil prices, the gradual firming of external demand, easy financing conditions driven by our accomodative monetary policy, and the depreciation of the euro.” 2.27pm GMT Alexis Tsipras has arrived at Berlin-Tegel airport.He was then swiftly swept to a hotel in Berlin, by a phalanx of motorbikes, ready for his meeting with Angela Merkel in around 90 minutes time [see earlier preview]. 2.23pm GMT Draghi, by far my fav Central Banker,now giving live speech before the Committee on Economic & Monetary Affairs at EP pic.twitter.com/58h0s7lHPOEuropean central bank chief Mario Draghi is testifying to the European Parliament’s economic and monetary affairs committee now.Draghi LIVE http://t.co/xFmS9ntUv7 2.16pm GMT Teneo Intelligence analyst Wolfango Piccoli reckons Alexis Tsipras hasn’t exactly lived up to his pre-election rhetoric:From "then, we take Berlin" to "then, we beg in Berlin" in less than 2 months from election day #SYRIZA #GREECE 2.05pm GMT The ever-volatile Greek stock market has jumped by 2% today, suggesting Athens traders are hopeful about tonight’s talks.Greek bank shares are leading the list of top risers, with Eurobank Ergasias jumping 10%. 1.57pm GMT Greece’s finance minister has a fan in Germany, this graffiti suggests: 1.52pm GMT The euro is rallying in the currency markets today.It’s gained 1% against the US dollar today to $1.0921, as currency traders continue to scratch their heads and wonder when the Federal Reserve might raise interest rates.Latest @guardian projection CON 276 LAB 270 SNP 53 As things stand, LAB/SNP have the numbers http://t.co/71KELR1Nmo pic.twitter.com/DnNOgyCMrj 1.36pm GMT A quick recap.With Tsipras ratcheting up the rhetoric on Greece’s immediate debt woes, the post Merkel Tsipras meeting press conference is likely to be the key focal point for the day....Greece will clearly not be far away from market thoughts as its cash crunch point nears.Tonight, Prime Minister Tsipras has potentially his last chance to convince German Chancellor Merkel that he will ultimately do what it takes to keep Greece in the euro. If he fails to inspire any kind of trust in Berlin, securing the necessary funds to keep going, let alone the inevitable third bail-out in July, while be a fantasy.Summary of Greek-EU negotiations: Greece: If you don't help us, we'll go bust. EU: Indeed. Greece: That would be bad. EU: Yes.A double welcome for #Tsipras to #Germany from Bild newspaper 1/2 pic.twitter.com/S68KtlrxNf 12.57pm GMT Over in Athens the Greek government spokesman Gavriel Sakellarides has just told MEGA TV that the letter Tsipras penned to Merkel “was one of many” sent to EU officials last week (via Helena Smith)Other recipients included EU commission president Jean-Claude Juncker and the French president Francois Hollande, he said.“It didn’t say anything more or less than what we had said the previous week.For anyone who has followed the statements of government officials it is clear that there is a liquidity problem, … and political initiatives have to be taken.” ‘It’s not a question of its being leaked, its about what this letter says.” 12.54pm GMT Bad news for City workers hoping for a glimpse of Yanis Varoufakis tomorrow – the Greek finance minister has cancelled a planned visit to London.Varoufakis was due to talk at a conference in London and attend another couple of events but has called the trip off as crucial talks between Greece and its euro zone partners over the country’s need for financial support heat up.:( RT @tconnellyRTE Reuters reporting that Greek fin min Varoufakis has cancelled his trip to London planned for Tuesday 12.49pm GMT Over, in Athens officials are insisting that the potentially explosive issue of war reparations will be on the table at tonight’s talks. In the two hours that Alexis Tsipras will have with the German chancellor this afternoon, the neuralgic issue of compensation for Nazi war crimes will be put on the table, officials say. “It won’t be the main issue, obviously, but it will be addressed,” a senior insider told me. “How Europeans see the Germans: The German Ubermacht [superior power]”Der Spiegel publishes provocative cover of #Merkel surrounded by Nazi troops at the #Acropolis http://t.co/mLoRjTZnuS pic.twitter.com/1D3Mv2vZvw 12.22pm GMT Reuters has now published Angela Merkel’s spokesman’s comments about his afternoon’s meeting with Alexis Tsipras.Steffen Seibert said that the meeting can’t supersede the eurogroup (the eurozone’s finance ministers): “Greece has an agreement with the Eurogroup, not a bilateral one with Germany. So if there is a reform list shortly as Greece has promised, it will be presented to the Eurogroup, not to individual governments.... “of course it’s interesting for the chancellor to hear from the Greek prime minister’s mouth what his ideas are”,. 12.01pm GMT 11.51am GMT German tabloid Bild’s list of “50 reasons we like Greece” is online here.It’s quite the olive branch, with polite nods to Archimedes, Nana Mouskouri, the overthrow of the Greek military government in 1974, the Trojan Horse and its fantastic tourism opportunities (a nice alternative to Italy and Spain). 11.43am GMT #Greece #Germany not just #Tsipras in Berlin today. Foreign mins of both countries held talks "to ease tensions" in capital last night 11.28am GMT Government officials in Athens and Berlin are hoping that Merkel and Tsipras can exhibit enough mutual trust to make progress today, says Athens correspondent Helena Smith:#Greece the glue that'll make historic meeting between #Tsipras and #Merkel stick is "trust" say officials in both countries#Greek media making much of fact that likes of #Bild welcoming pm #AlexisTsipras to Berlin in fluent Greek http://t.co/xxfLXRrbid 11.14am GMT Germany’s foreign ministry isn’t keen to discuss the issue of war reparations, Reuters adds. 11.13am GMT Back in Germany, a government spokesman has tried to downplay hopes of a breakthrough at tonight’s talks. Any deal, he says, must come from the Eurogroup of eurozone finance ministers, not between the German and Greek leaders personally. 11.05am GMT Ouch. Britain’s factory sector has suffered its biggest drop in export orders in over two years.The CBI’s latest survey of the sector, just released, showed that total orders books were flat in March. The index of new export orders fell to -26, the lowest level since January 2013. 10.55am GMT And to complete our paper round-up, Die Zeit reports that Tsipras will present Merkel with some new reform plans today.That could include tax increases on tobacco and alcohol and raising the retirement age.#Tsipras to present #Merkel with concrete measures today including VAT increase + retirement age pushback to 67 years http://t.co/v2rMLmrmxJ 10.46am GMT German tabloid Bild has pulled out all the stops for Alexis Tsipras’s visit, starting with a front page which is half printed in Greek!And inside, there’s an article called “50 reasons why we are fond of Greeks”.A double welcome for #Tsipras to #Germany from Bild newspaper 1/2 pic.twitter.com/S68KtlrxNfAttention Mr #Tsipras! Doris, 60, from Stuttgart, has recorded all her spending since 1977. That's how to do it #Bild pic.twitter.com/nDs43xmPpC2/2 Bild newspaper also has some tips for #Tsipras on how to save money, demonstrated by Felix, 9, from Munich pic.twitter.com/5GjEzQbbIC 10.39am GMT Greece’s Ta Nea newspaper says Athens has reached out to Iran to see if it might help by buying some short-term Greek debt to tide it through the crisis.Acc to Ta Nea newspaper, #Greece ForMinistry representatives went to Tehran (wtf) in order 4 the latter to consider buying part of Gr debt#Greece |@papachristosgio report in @ta_nea re Greek MFA envoy (Tsipras' cousin) to Iran in search of Tbill investors pic.twitter.com/ZkZKWVFE4Q 10.21am GMT The structure of today’s meeting is quite interesting. Angela Merkel and Alexis Tsipras are scheduled to meet around 5pm local time (4pm GMT) and talk for two hours, followed by a press conference to brief the media. 10.10am GMT Both sides at today’s meeting see each other as the bad guy, tweets BBC Europe editor Katya Adler:#Tsipras may see himself as plucky David coming to visit Goliath here in #Berlin but #German media paint him as outlaw to #Merkel's sheriff 9.58am GMT Greece’s looming cash crunch (see earlier post) means it’s vital that Alexis Tsipras establishes trust with Angela Merkel tonight.Christian Schulz, senior economist at Berenberg Bank, argues that it could be his last chance to build bridges with the chancellor: The news out of Athens is getting more and more desperate, with the government apparently on track to run out of money in early April Having learned the hard way that Europe cannot be blackmailed, it is difficult for us to understand why Syriza is dragging its feet on implementing the necessary reforms to secure funding and why it subjects the Greek people to deepening economic and financial crisis. Tonight, Prime Minister Tsipras has potentially his last chance to convince German Chancellor Merkel that he will ultimately do what it takes to keep Greece in the euro. If he fails to inspire any kind of trust in Berlin, securing the necessary funds to keep going, let alone the inevitable third bail-out in July, while be a fantasy. 9.54am GMT Last night’s Andalusian election results may suggest that Podemos is now losing ground, just a year after being founded, argues Berenberg Bank:They writes:Is Podemos’ star sinking already? After beginning to gradually fall in the polls as Spanish media turned their focus on the party’s links with Venezuela, Spain’s Syriza-equivalent Podemos failed miserably to win the election in one of Spain’s worst hit regions. #Eurozone: #Syriza's disaster deflates Europe's populist threat. http://t.co/d2sB6iem09 pic.twitter.com/tRu3x7dXM9 9.34am GMT In case you missed it....Spain’s anti-austerity party, Podemos, secured third place in regional elections last night. Related: Spanish anti-austerity party Podemos wins 15 seats in Andalusia 9.19am GMT How close is Greece to running out of funds?Germany’s Frankfurter Allgemeine newspaper reported yesterday that Athens has just two weeks to secure fresh aid before the situation becomes ‘critical’. 8.49am GMT James Bullard, president of the St. Louis Federal Reserve, has predicted this morning that Greece could leave the eurozone.But speaking on CNBC, Bullard also warned it would be a mistake and leave Greeks facing a ‘bleak’ future.#Fed's Bullard says #Grexit possible but would not be advisable, would be bleak for Greece 8.46am GMT Our Berlin correspondent, Kate Connolly, reports that German sentiment towards Greece has soured in recent months, as some lose patience with Athens’ demands for more help.“I really don’t know how much longer we should keep patting their backs and telling them everything’s going to be alright – here’s an extra 100m.If my son kept coming to me for money to get himself out of trouble, I’d help him immediately, but I’d want to see that he was trying to get out of any mess he’d got himself into, wouldn’t I? I couldn’t afford to keep tossing banknotes in his direction.”Georg Franke, a 57-year-old market-stall holder in Potsdam, said while he believed the Greek government’s behaviour had been “childish”, he did not find its second world war compensation claims so outlandish.“The trouble is, Germans know a lot about the atrocities carried out in their name by the Wehrmacht and the SS against the Jews from Germany, Poland and Hungary, as well as the Slavs, but we learnt very little in school about the horrors carried out against the Greeks. It was only recently, around the 70th anniversary of the liberation of Auschwitz, that I saw a documentary which touched on how they [Jewish Greeks] were almost all wiped out and it brought it home to me.” Related: How German voters are losing patience with Greece 8.31am GMT The FTSE 100 index of leading shares has dropped back down to the 7,000 mark in early trading, down 22 points. So no new record high yet.It should prove to be another decisive week for Greece as Greek Prime Minister Tsipras is set to meet German Chancellor Merkel. Athens is hoping to improve relations with its biggest EU creditor before announcing a more detailed set of reforms required to unlock the next instalment of aid. 8.17am GMT Hajo Funke, political scientist with Berlin’s Free University, says that “two worlds will collide” when Merkel and Tsipras sit down this afternoon “There is the political world of Greece, where a left-wing government faces a society in collapse, (of) societal decay... as grave as anything we have seen in western Europe since 1945.”.“The other world is a content country that is dominant in Europe, Germany, which worries about maintaining its economic happiness, and which is now being asked to help the other, under conditions it doesn’t fully understand.” 8.12am GMT German politicians hope that Alexis Tsipras will arrive in Berlin with details of the new reform plans.Thomas Oppermann, parliamentary leader of Merkel’s Social Democrat coalition partners, says Greece must deliver on the pledges made at Thursday night’s mini-summit in Brussels. “I expect [Mr Tsipras] to present this list in his talks with the chancellor on Monday. “I want to know once and for all if Greece is ready to reform or not.” 8.02am GMT Alexis Tsipras has raised the stakes ahead of today’s meeting with Angela Merkel by declaring that Greece cannot meet looming debt repayments without help from its creditors.In a letter sent to Germany last week, Tsipras warned that the lack of bailout funds mean it is “impossible” to service debt obligations due in the coming weeks (such as debt repayments and publc sector wage bills)Given that Greece has no access to money markets, and also in view of the ‘spikes’ in our debt repayment obligations during the Spring and Summer of 2015 (primarily to the IMF), it ought to be clear that the ECB’s special restrictions when combined with the disbursement delays would make it impossible for any government to service its debt obligations. Servicing these repayments through internal resources alone would, indeed, lead to a sharp deterioration in the already depressed Greek social economy – a prospect that I will not countenance.Monday's FT front page: Greece’s leader warns Merkel of ‘impossible’ debt payments #tomorrowspaperstoday #bbcpapers pic.twitter.com/OOymneYXy2 7.40am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.German MPs laughed last week when Angela Merkel told them she was looking forward to meeting - and perhaps arguing - with her Greek counterpart today. But there may not be too much mirth in Berlin tonight as the chancellor hosts Alexis Tsipras for the first time.On both sides, the talks are being seen as a “moment of truth.” Greece has made clear, under its new government, that it does not want to leave the eurozone and Tsipras his point that austerity needs to be eased. In Athens officials are putting on a brave face.“We are looking forward to this meeting,” said the Greek government spokesman Gavriel Sakellarides. “There’s a good chemistry between the two leaders. It’s much better that they talk directly to one another. Related: 'Moment of truth' for Greece and the euro as Tsipris arrives in Berlin Greek PM Tsipras & German Chancellor Merkel meeting agenda (GMT): 1600 - Meeting 1800 - Presser 1900 - Working dinnerGiven all the measures that have been introduced by the ECB and signs of bottoming in data, there is a good chance Mr Draghi will give a more upbeat assessment of the economy. Continue reading...
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