Greece will not present a list of economic reforms to euro zone finance ministers on Friday, a senior EU official said, adding the country should be able to stay solvent until June.
Tags: Euro zone
Absence of contagion changes whole Greek game
If fear of Europe-wide financial wildfire was Athens' trump card in its standoff with euro zone creditors - then the card has now turned up a dud.
More central banks meet, but ability to pilot economies in doubt
Most central banks have been easing policy since the start of the year and are set to do more, but it still isn't clear whether that new activism, which has pushed stock markets to record highs, will help the global economy much.
Greece offers some concessions as 'tired' creditors urge progress
Greece offered some concessions on Friday on reforms demanded by international lenders in return for new funding before Athens runs out of money, but euro zone creditors said negotiations needed to speed up to get a deal by June.
Greece's Tsipras urges speeded up process to clinch debt deal
Greek Prime Minister Alexis Tsipras called for a speeding up of the process to conclude a reform-for-cash deal with euro zone creditors after talks with German Chancellor Angela Merkel on Thursday, a Greek official said.
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World stocks climbed back toward all-time highs on Tuesday as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default.
Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers.
Greece will need to tap all the remaining cash reserves across its public sector -- a total of 2 billion euros ($2.16 billion) -- to pay civil service wages and pensions at the end of the month, according to finance ministry officials.
Investors attempting to determine whether U.S. equities will rebound from Friday's selloff or continue to sink will look to a deluge of earnings next week for a clearer picture of the economy.
The S&P 500 posted its biggest percentage loss since March 25 on Friday as investors shunned risk amid new trading regulations in China, renewed worries about Greece running out of money, and tepid U.S. corporate earnings.
Germany's finance minister said on Wednesday there was no prospect of the euro zone reaching a deal with Athens next week on economic reforms that would unlock bailout funds, potentially leaving Greece perilously short of money.
Euro zone officials were shocked at Greece's failure to outline plans for structural reforms at last week's talks in Brussels, a German newspaper on Saturday cited participants as saying, adding the Greek representative behaved like a "taxi driver"
Even if it survives the next three months teetering on the brink of bankruptcy, Greece may have blown its best chance of a long-term debt deal by alienating its euro zone partners when it most needed their support.
Euro zone partners set Greece a deadline of six working days to improve proposed economic reforms in time for finance ministers to consider some emergency funding to keep the country afloat after it makes a repayment to the IMF on Thursday.
