Athens stock market declines, optimism over imminent Greek debt deal fading

The Athens Stock Exchange which rallied earlier this week as all sides pointed to an imminent Geek debt deal with creditors, opened with losses on Wednesday. The General price index had dropped by 3.3 percent by noon.

Greek Prime Minister Alexis Tsipras joined a new round of crucial talks in Brussels on Wednesday in the final stretch to reach a deal on the Greek debt by June 30 and avert a Greek default and Grexit amidst renewed tensions with Greece's international lenders.

Tsipras expressed frustration through his Twitter account shortly earlier over last minute demands by interlocutors on the terms of unlocking further aid to Athens.

"Either they do not want an agreement or they serve specific interests in Greece. The rejection of equivalent measures by certain institutions is unprecedented," he commented.

According to government sources IMF in particular turned down part of the Greek proposal for a draft deal that was initially welcomed as a good basis for final talks on Monday during an emergency euro zone summit in the Belgian capital.

Athens insists that the draft tabled on Monday was the most balanced solution under the current difficult circumstances after five months of negotiations.

According to Greek government sources the Greek side was presented with a counter proposal by the institutions on Wednesday that was dismissed.

Amidst this climate the optimism expressed earlier this week that the extraordinary Eurogroup meeting tonight could finalize a deal that would be sealed in tomorrow's EU summit and then ratified by the Greek parliament in the weekend, is fading. Endit