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Germany demands major concessions from Greek authorities

UK stock markets are down heavily this morning on news that the German authorities are demanding ever tougher concessions from the Greek authorities in exchange for a multibillion euro bailout package. There is growing anger and resentment within the investment markets with the European Union and the IMF seemingly moving the goalposts on a regular basis.

Recent news from the meeting between the Greek authorities, European Union and the IMF confirm that the position of the Greek authorities has been weakened of late with the European Union and IMF demanding more and more cuts in the country's budget. At some point all parties involved will need to draw a line under the situation and agree to move forward because ultimately European and international debt markets are becoming more and more concerned and there is a real risk of Greece defaulting on its national debt.

We seem to be commenting upon the Greek debacle on a regular basis now despite the fact that various parties involved appeared to indicate the situation was coming to a conclusion. The truth is that markets are more concerned and confused than ever today and this is being reflected in the ever-increasing cost of debt, in the commercial markets, for the Greek government.

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