Stock markets are living in economic turmoil. So, Greece reject the EU bailouy offer during talks in Brussels. The International Monetary Fund (IMF) and European Union (EU) say there should be no change to the conditions of the €240bn (£178bn) loan.
A Greek official said there would be no deal today, but talks are continuing.
“Some people’s insistence on the Greek government implementing the bailout is unreasonable and cannot be accepted,” Reuters quoted the official as saying.
“Those who keep returning to this issue are wasting their time. Under such circumstances, there cannot be a deal today.”
Many EU Finance Minister was very realist with it.
German finance minister Wolfgang Schaeuble had already said he was not optimistic a deal would be reached.
Mr Schaeuble told German radio: “The problem is that Greece has lived beyond its means for a long time and that nobody wants to give Greece money any more without guarantees,” Mr Schaeuble said.
But French Finance Minister Michel Sapin said European leaders needed to respect the political change in Athens. As he arrived in Brussels he urged the Greeks to extend their current deal to allow time for talks.
The current bailout expires on 28 February.
However, Greeks approves the conduct of new government in relation of bailout talks.
Greek Prime Minister Alexis Tsipras told Germany’s Stern magazine at the weekend that his government needed time to carry out reforms and put the mismanagement of the past behind it.
“I expect difficult negotiations; nevertheless I am full of confidence,” he said. “I promise you: Greece will then, in six months’ time, be a completely different country.”
Conclusion: More tension on stock markets until 28 February