Euro zone leaders will attend an emergency summit on Monday, hoping to thrash out a plan with Athens to provide Greece with additional funds to prevent it defaulting on its debt -- but only if both sides play ball.
Europe
Resistance to Greek drama hints at euro's strength
As the big global banks and investment houses see it, almost every outcome of Greece's stand-off with its creditors leads to a weaker euro. So why isn't the single currency falling?
Oil rises after EU welcomes new proposals from Greece
Oil prices rose above $63 a barrel on Monday in response to new proposals from Greece that the European Union welcomed as a basis for progress at talks to try to stave off a default that could cause turmoil in financial markets.
German business leaders warn Merkel not to go soft on Greece
German business leaders urged Chancellor Angela Merkel to take a tough line with Greece at an emergency summit of euro zone leaders later on Monday, saying only reform concessions from Athens could keep the country in the euro zone.
Greek shares up 6.8 percent on hopes of deal
Greek shares .ATG rose 6.8 percent in morning trade on Monday on hopes that Greece was closer to reaching a deal with its international lenders.
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Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.
Bond yields and the dollar fell on Thursday after the Federal Reserve signaled that U.S. interest rates would rise more slowly than markets had expected, while Greece's drift closer to default pushed European stocks lower.
Boeing (BA.N) won breathing space for its struggling jumbo jet on Wednesday with a preliminary deal for 20 of its 747-8 freighters from Russian cargo airline Volga-Dnepr Group.
The Greek central bank warned on Wednesday that the country would be put on a "painful course" towards default and exiting the euro zone if the government and its international creditors failed to reach an agreement on an aid-for-reforms deal.
