Germany will negotiate with Athens 'until last minute': Merkel ally

[Bosonic]

Source: Reuters

BERLIN (Reuters) - Berlin will negotiate with Athens "until the last minute", a senior ally of Chancellor Angela Merkel told Germany's Inforadio on Friday, but stressed that Greece must be prepared to carry out reforms.

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.

Peter Altmaier, Merkel's chief of staff, said he still believed it was possible that Athens and its international lenders could reach a solution to Greece's debt crisis.

"We will negotiate until the last minute," Altmaier told Inforadio, adding that the German government did not want "the people in Greece to be disadvantaged because their government possibly did not recognize in time that the hour has come."

Read more: http://news.yahoo.com/germany-negotiate-athens-until-last-minute-merkel-ally-062718058--business.html

[cstanleytech]

1. They should just cancel the interest rate on the loans and give Greece

a 10 - 20 year grace period to get their house in order before they have to resume payments on the principle amount that they owe.
If they dont then Greece goes under and the Greek people will suffer because few would be willing to loan Greece any money and the investors will be left holding an empty bag.

[Javaman]

2. And the EU begins to freak out since it's been reported that Greece was chatting with Russia.

oh, it's going to get so much more interesting very soon.