Traders are spooked by collapse of negotiations last night, as PM Alexis Tsipras vows not to cave in to pressure from lendersSummary: Markets slide amid deadlockGreek government: Not planning snap electionsEC: Greece’s numbers need to add up PM Tsipras: No more lootingIntroduction: Talks failed last night 1.38pm BST EU officials have signalled their utter disenchantment with the Greek negotiations, by supplying unusual detail on how a weekend of talks in Brussels actually amounted to no negotiations at all. 1.28pm BST Time for a recap, as we await Mario Draghi’s appearance at the European Parliament this afternoon.The Greek government has only one plan and that is to reach a deal.....We will not adopt measures which will cut pensions, raise the value added tax on basic goods or measures which exacerbate the vicious circle of austerity.“The proposals meet the needs of the Greek people, the Greek government, but also of the other 18 (euro zone) member states.....“The targets have already been significantly lowered... It’s not a one-way street.”“We should work out an emergency plan because Greece would fall into a state of emergency,” said Oettinger, the EU Commissioner for Digital Economy and Society who is also a senior member of Merkel’s CDU in unusually strong comments.“Energy supplies, pay for police officials, medical supplies, and pharmaceutical products and much more” needed to be ensured, he said. If anyone thought @atsipras would back down, think again: day after talks break down, he comes out swinging pic.twitter.com/PwlOL6v2dx“This message is for Greece,” Hollande told reporters at the Paris Air Show. “It should not wait and should restart discussions with the institutions... Let’s not waste time.” Continue reading...
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