Updates on Greece

• After last Friday's Euro Group meeting Greek government is supposed to send fresh list of reforms and act on it. Greek Prime Minister Mr. Alexis Tsiparas is scheduled to meet German Chancellor in a face to face meeting in Berlin. Hopes are high that today's meeting might open up the gridlock.
  
  
• Two sides so far failed to agree on common set of reforms required before Greece can avail some of € 7.2 billion.

• Greek government has rejected the role of TROIKA, so new name has taken its place to refer to the inspectors. Brussels group now consist of four members, three existing ECB, IMF, European Commission and new addition European Stability mechanism.

• Tsiparas rebuked ECB as it withdrew its waiver on Greek bonds forcing the country to resort to limited ELA supply.

• Greek government is demanding additional funds that was promised to disburse once Greece reaches primary surplus which the country has reached already. Demand of reparation from Germany is quite high.

• Greek government on a continuous basis complained over liquidity and its inability to pay back the loan from IMF and ECB. Now according to a report published by FAS Greece could run out of money by April 8^th.

Successful negotiation by Mrs. Merkel has resolved many issues in the past, hopes are high that today could be one such. If the Greek negotiation turned out as a success, it would be very positive for Euro and most for Greek bonds. Euro is currently trading at 1.086, up 0.5% today.