Moody's rating agency has downgraded the eurozone rescue fund, the ESM, in the same week that Greece has gotten more bailout money and France's rating was cut. More trouble ahead for the eurozone?
With crucial bailout talks with Greece underway in Brussels, many have already deemed the negotiations all but a failure. The German Finance Minister said he was "very sceptical" ahead of the meeting.
Michael Hüther, head of the employer-oriented Institute for Economic Research, supports German Finance Minister Schäuble's tough stance on Greece: there is no reason to change the German position, he says.
Greece is expected to submit a request on Thursday to extend a "loan agreement" by up to six months. The new Greek government has gone into overdrive in hopes of resolving Greece's debt crisis on its own terms.
Germany's rejection of Greece's request for more funds has tempered optimism that a deal could be amicably reached before a looming Friday deadline. It only took two hours for Berlin to rebuff Athens' proposal.
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