Rolling coverage of economics and the financial markets, as uncertainty swirls around Greece’s bailout negotiations.Introduction: Negotiations resuming today 8.05am BST European commissioner Pierre Moscovici is the first policymaker to break cover from the G7 this morning.He has said there’s been “good progress” between Greece and lender.....*MOSCOVICI SAYS IT'S CLEAR TIME IS RUNNING SHORT ON GREECE*MOSCOVICI SAYS 'WE'RE NOT YET THERE' ON GREEK PENSION REFORMS 7.49am BST Greece’s deputy prime minister, Yannis Dragasakis, has claimed that ‘political will’ is the missing ingredient needed for a deal (explaining why his boss phoned the leaders of Germany and France last night)Greek Dep PM Dragasakis: Political will is missing on Greece deal --Corriere della Sera via BBGDragasakis: Greece is willing to pay its debts, but is against new austerity 7.44am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.We’re coming to the end of another week that started with hopes of a breakthrough between Greece and its creditors, but has seen little evidence of progress since. Related: Grexit is a possibility, warns head of IMF The three leaders spoke for about an hour and government sources referred to “a positive climate.”The exact content of the conversation remained unclear but it is thought Tsipras asked Merkel and Hollande to make good on a pledge they made at an EU leaders’ summit in Riga last week to help overcome potential obstacles in the negotiations. Continue reading...
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