Thursday, June 18, 2015

Greece Update

by Bill McBride on 6/18/2015 08:41:00 PM

A timeline from Peter Spiegel Greek debt crisis: Key dates on the road to a possible Grexit. There is very little time left.

Also from the Financial Times: Greece’s defiant youth opt for ‘chaos’ over more of the same

From Bloomberg: EU Calls Emergency Summit as Greece Runs Out of Time

Greece lurched closer to an exit from the euro as a meeting of finance officials to reach a deal over aid dissolved in acrimony, forcing leaders to call for an emergency summit for Monday.

As the European Central Bank prepared for its own emergency session on Friday to discuss Greece’s liquidity, thousands of Greeks piled outside parliament in Athens asking for the nation to be saved from default as Prime Minister Alexis Tsipras’s government blamed a conspiracy to blackmail Greece for the rancorous breakdown in talks.
And from the NY Times: Amid Deadlock With Greece, Europe Sets Emergency Meeting

Pretty grim headlines.