Greece and creditors fail to agree ahead of crucial weekend

Greece’s bailout negotiations were underway again Thursday morning after a late-night session with Prime Minister Alexis Tsipras.

 

And though a “feasibility blueprint” is being passed around, there is still no agreement.

 

German finance minister Wolfgang Schäuble reportedly said the Greeks “have moved backwards rather than forwards.”

 

Basically, there has been almost no movement since Greece’s creditors (particularly the International Monetary Fund) rejected the country’s proposed deal on Wednesday.

 

As a result, Greece is likely to dominate the packed agenda of the European Union leaders’ summit on Friday.

 

BNP Paribas analysts summed up the dark outlook if there’s no deal by Friday:

 

Read More: Greece and creditors fail to agree ahead of crucial weekend – Business Insider