The lack of pension cuts in the latest Greek bailout proposal appears to be the leading cause for optimism now fading for another emergency meeting in Brussels now underway.
A BBC story provides the graphic below that should serve as a timely reminder of exactly what the current crisis amounts to – unlocking bailout funds that Greece will use to meet the repayment schedule for prior bailout funding.
The Guardian provides this live feed of the goings on at the eurogroup meeting which just ended after just one hour (not a good sign). IMF Director Christine Lagarde looked gloomy and German FinMin Wolfgang Schauble looked even gloomier.
The stock market will likely continue to rally anyway…