Markets hold steady as Greek debt talks continue

(AGI) Rome, June 25 - Greek debt negotiations once again fellthrough on Thursday ending with another Eurogroup sessionscheduled for Saturday and overnight discussions in a lastditch attempt to avoid default by Athens. Greek Prime MinisterAlexis Tsipras said he is "confident" that a compromise will bereached for Greece to obtain the last tranche of an aid packageof 7.2 billion euros. The EU, European Central Bank (ECB),International Monetary Fund (IMF), on the basis of the EuropeanStability Mechanism (ESM) offered a solution approachingGreece's own proposals on Monday, but the Greek government hasyet to

(AGI) Rome, June 25 - Greek debt negotiations once again fellthrough on Thursday ending with another Eurogroup sessionscheduled for Saturday and overnight discussions in a lastditch attempt to avoid default by Athens. Greek Prime MinisterAlexis Tsipras said he is "confident" that a compromise will bereached for Greece to obtain the last tranche of an aid packageof 7.2 billion euros. The EU, European Central Bank (ECB),International Monetary Fund (IMF), on the basis of the EuropeanStability Mechanism (ESM) offered a solution approachingGreece's own proposals on Monday, but the Greek government hasyet to respond, a source from one of the institutions said. Thedoor for Athens "remains open" despite the fourth failedmeeting in seven days, Eurogroup president Jeroen Dijsselbloemstated, while a Greek official declared that disagreements areno longer so serious as to impede a deal with creditors. Theovernight meeting set to take place in the coming hours maytherefore be crucial for unblocking the stalemate. The ECB'smanaging board kept unchanged the emergency liquidityassistance (ELA) limit, currently around 89 billion euros, forGreek banks. Markets remained stable throughout the day after anegative start, with hopes for an agreement bringing stocks upbefore the news led to a moderate drop before close. In mixedtrading, London fell by 0.54 percent, Frankfurt by 0.24percent, Paris by 0.31 percent, and Madrid by 0.38. Milan'sFTSE MIB ran countercurrent thanks to the banking sector,gaining 1.24 percent. Athens rose by 0.10 percent.. .

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