Rejected draft text said that Eurozone would make use of flexibility in current program

Author: Ryan Littlestone | Category: News

  • Draft called on Greece to refrain from unilateral action
  • Draft said Greece would request 6 month technical extension of current program
  • Text said Greece would commit to appropriate primary fiscal surpluses and any new measures should be funded
  • Greeks indicated that they intended to successfully conclude the program taking government plans into account
  • Eurogroup favored 6m extension to availability of EFSF bonds in Greek bank bailout fund
Reuters with the scoop on the draft document
EUR/USD drops to 1.1352

More now from twitter saying that the meeting has been temporarily suspended.

That's good as I can go and get myself some dinner

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