According to multiple sources in Athens, a “new” deal is being put together to end the EU – Greece standoff once and for all by midnight tonight. The most significant aspect of the deal being put together is that the IMF will not take part. Yes the IMF is gone, according to sources in the Athen’s government.
Information is coming in that this morning European Commission President, Juncker sent a new, improved proposal including a reference to adjusting the Greek debt burden.
But most important of all is that – according to sources – the IMF out of the new agreement being discussed.
Various meetings are taking place throughout Europe…in Athens, Brussels and major European capitals, officials are working non-stop to find a formula that will be break the deadlock, or at the very least provide for an acceptable extension of the current program set to expire.
The lines of communication with creditors were re-opened after EC President Juncker’s “old/new” proposal, delivered late Monday night, was rejected…prompting an early morning “new/new” proposal from the EC president.
Time is tight, but don’t be surprised to see a new Eurogroup meeting in the afternoon where some unexpected twists and surprises may come last minute.