European Stocks Droop as Greek Debt Handwringing Continues
London (Jun 25) European markets moved lower on Thursday after an inconclusive meeting late yesterday between Greek officials and its international creditors stoked further worries about a Greek debt fault and eurozone exit.
As talks resumed today, a report leaked to the Financial Times shows creditors are still demanding tough new rules governing pensions, which Greek Prime Minister Alexis Tsipras has fiercely resisted. Greece must strike a deal by next Tuesday, when its bailout funding expires and when a €1.6 billion ($1.8 billion) payment falls due to the International Monetary Fund.
Meanwhile as the possibility of a Grexit draws closer, U.K. PM David Cameron will launch his campaign to seek new European Union membership terms and avoid a "Brexit" at a meeting of European leaders in Brussels later today.