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Greek Bailout Talks for Next Tranche Delivery Break Off

Talks between Greece and its international creditors over the release of the country’s next slice of bailout cash have broken off for two weeks.

The creditors, known as the troika, are demanding further reforms and improved tax collection in return for the loan.

Greece is due to get the next 2.8bn euros (£2.4bn; $3.6bn) tranche of its bailout funds at the end of the month.

Greece has been struggling with years of spending cuts and tax rises.

The troika officials from the European Commission, European Central Bank and International Monetary Fund held a three-hour meeting on Wednesday with Greek Finance Minister Yannis Stournaras and Prime Minister Antonis Samaras, but they broke off talks and Mr Stournaras said the troika would return in late March or early April.

The country had to seek the bailouts to meet its debt repayments and budget shortfalls after years of overspending led private sector lenders to refuse to lend the country any more.

Greece was promised a total of 240bn euros from two bailouts and has received the majority of that – thereby lowering fears that Greece would have to exit the euro.

via BBC

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June
18
Today’s Global
Market Events
12:30am

JPY
Revised Industrial Production m/m
(F)1.7% (P)1.7%
2:00am

EUR
ECB President Draghi Speaks
4:30am

GBP
CPI y/y
(F)2.6% (P)2.4%
GBP
PPI Input m/m
(F)0.1% (P)-2.3%
GBP
RPI y/y
(F)3.1% (P)2.9%
GBP
Core CPI y/y
(F)2.1% (P)2%
GBP
HPI y/y
(F)2.6% (P)2.7%
GBP
PPI Output m/m
(F)0% (P)-0.1%
5:00am

EUR
German ZEW Economic Sentiment
(F)38.2 (P)36.4
EUR
ZEW Economic Sentiment
(F)29.4 (P)27.6
Tentative

GBP
BOE Inflation Letter
8:30am

USD
Building Permits
(F)0.98M (P)1.01M
USD
Core CPI m/m
(F)0.2% (P)0.1%
USD
CPI m/m
(F)0.1% (P)-0.4%
USD
Housing Starts
(F)0.95M (P)0.85M
Day 2

ALL
G8 Meetings
6:45pm

NZD
Current Account
(F)-0.64B (P)-3.26B
7:50pm

JPY
Trade Balance
(F)-0.89T (P)-0.76T
8:00pm

AUD
CB Leading Index m/m
(F)N/A (P)0.1%
8:30pm

AUD
MI Leading Index m/m
(F)N/A (P)0.2%