BI . The last hour has seen a ton of breaking headlines out of Europe, as the Greek crisis comes front and center yet again.
The gist is that we won’t be seeing moves on Greece at the European finance ministers meeting on Monday, May 16. But we are likely to see the Portuguese bailout deal concluded, and Ireland get a cut on its bailout loan interest rate.
Earlier, German Chancellor Angela Merkel refused to commit to further aid for Greece until she sees the IMF-EU report on the country’s progress, which won’t be available until June. Olli Rehn, European finance chief, has also refused to be nailed down on any Greek numbers, saying he’ll also be waiting for the report. French finance minister Christiane Lagarde was more dovish, saying eurozone leaders will continue to rescue Greece.