Even if they do delay, other countries and the IMF will be there. The amount of aide must be convincing to the markets. Restructuring is not a part of any of the talks, he says. Talks will be completed by Sunday and are very close to agreement, he says.
The government guarantees bank deposits, the minister says. That and 500 drachma will buy you a cup of coffee, as the old saying goes. The Greek government cannot at present finance its own obligations. It begs the question how it can guarantee the obligations on the banks…
EUR/USD consolidates at 1.3243.
