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Alexis Tsipras meets Angela Merkel for talks amid growing debt fears - live updates Alexis Tsipras meets Angela Merkel for talks amid growing debt fears - live updates
(35 minutes later)
12.01pm GMT12:01
11.51am GMT11:51
German tabloid Bild’s list of “50 reasons we like Greece” is online here.
It’s quite the olive branch, with polite nods to Archimedes, Nana Mouskouri, the overthrow of the Greek military government in 1974, the Trojan Horse and its fantastic tourism opportunities (a nice alternative to Italy and Spain).
Bild can’t quite resist a jibe, though -- number 50 on the list is Greek finance minister Yanis Varoufakis’s luxury retreat, reportedly now available to rent for a mere €5,000 per week.
11.43am GMT11:43
#Greece #Germany not just #Tsipras in Berlin today. Foreign mins of both countries held talks "to ease tensions" in capital last night
11.28am GMT11:2811.28am GMT11:28
Government officials in Athens and Berlin are hoping that Merkel and Tsipras can exhibit enough mutual trust to make progress today, says Athens correspondent Helena Smith:Government officials in Athens and Berlin are hoping that Merkel and Tsipras can exhibit enough mutual trust to make progress today, says Athens correspondent Helena Smith:
#Greece the glue that'll make historic meeting between #Tsipras and #Merkel stick is "trust" say officials in both countries#Greece the glue that'll make historic meeting between #Tsipras and #Merkel stick is "trust" say officials in both countries
Today’s Bild frontpage has caused a stir in Greece, she adds:Today’s Bild frontpage has caused a stir in Greece, she adds:
#Greek media making much of fact that likes of #Bild welcoming pm #AlexisTsipras to Berlin in fluent Greek http://t.co/xxfLXRrbid#Greek media making much of fact that likes of #Bild welcoming pm #AlexisTsipras to Berlin in fluent Greek http://t.co/xxfLXRrbid
11.14am GMT11:1411.14am GMT11:14
Germany’s foreign ministry isn’t keen to discuss the issue of war reparations, Reuters adds.Germany’s foreign ministry isn’t keen to discuss the issue of war reparations, Reuters adds.
Updated at 11.15am GMTUpdated at 11.15am GMT
11.13am GMT11:1311.13am GMT11:13
Germany: Greek crisis won't be solved tonightGermany: Greek crisis won't be solved tonight
Back in Germany, a government spokesman has tried to downplay hopes of a breakthrough at tonight’s talks.Back in Germany, a government spokesman has tried to downplay hopes of a breakthrough at tonight’s talks.
Any deal, he says, must come from the Eurogroup of eurozone finance ministers, not between the German and Greek leaders personally.Any deal, he says, must come from the Eurogroup of eurozone finance ministers, not between the German and Greek leaders personally.
He also confirmed that Angela Merkel received a letter from Alexis Tsipras a few days ago, but wouldn’t say whether Tsipras had warned that it’s “impossible” to meet Greece’s debts without more help [as covered earlier].He also confirmed that Angela Merkel received a letter from Alexis Tsipras a few days ago, but wouldn’t say whether Tsipras had warned that it’s “impossible” to meet Greece’s debts without more help [as covered earlier].
Reuters has snapped the details:Reuters has snapped the details:
11.05am GMT11:0511.05am GMT11:05
CBI: UK factories hit by sliding exportsCBI: UK factories hit by sliding exports
Ouch. Britain’s factory sector has suffered its biggest drop in export orders in over two years.Ouch. Britain’s factory sector has suffered its biggest drop in export orders in over two years.
The CBI’s latest survey of the sector, just released, showed that total orders books were flat in March. The index of new export orders fell to -26, the lowest level since January 2013.The CBI’s latest survey of the sector, just released, showed that total orders books were flat in March. The index of new export orders fell to -26, the lowest level since January 2013.
The CBI blames the ‘still subdued’ eurozone, and also the strength of the pound for making exports less competitive.The CBI blames the ‘still subdued’ eurozone, and also the strength of the pound for making exports less competitive.
10.55am GMT10:5510.55am GMT10:55
And to complete our paper round-up, Die Zeit reports that Tsipras will present Merkel with some new reform plans today.And to complete our paper round-up, Die Zeit reports that Tsipras will present Merkel with some new reform plans today.
That could include tax increases on tobacco and alcohol and raising the retirement age.That could include tax increases on tobacco and alcohol and raising the retirement age.
#Tsipras to present #Merkel with concrete measures today including VAT increase + retirement age pushback to 67 years http://t.co/v2rMLmrmxJ#Tsipras to present #Merkel with concrete measures today including VAT increase + retirement age pushback to 67 years http://t.co/v2rMLmrmxJ
10.46am GMT10:4610.46am GMT10:46
Bild welcomes Tsipras to GermanyBild welcomes Tsipras to Germany
German tabloid Bild has pulled out all the stops for Alexis Tsipras’s visit, starting with a front page which is half printed in Greek!German tabloid Bild has pulled out all the stops for Alexis Tsipras’s visit, starting with a front page which is half printed in Greek!
And inside, there’s an article called “50 reasons why we are fond of Greeks”.And inside, there’s an article called “50 reasons why we are fond of Greeks”.
A double welcome for #Tsipras to #Germany from Bild newspaper 1/2 pic.twitter.com/S68KtlrxNfA double welcome for #Tsipras to #Germany from Bild newspaper 1/2 pic.twitter.com/S68KtlrxNf
Bild was heavily criticised last month for encouraging readers to pose for selfies along its campaign against giving “Greedy Greeks” more cash.Bild was heavily criticised last month for encouraging readers to pose for selfies along its campaign against giving “Greedy Greeks” more cash.
So today, it’s trying to be helpful -- presenting a thrifty housewife and a young boy who have a proper grip on financial matters:So today, it’s trying to be helpful -- presenting a thrifty housewife and a young boy who have a proper grip on financial matters:
Attention Mr #Tsipras! Doris, 60, from Stuttgart, has recorded all her spending since 1977. That's how to do it #Bild pic.twitter.com/nDs43xmPpCAttention Mr #Tsipras! Doris, 60, from Stuttgart, has recorded all her spending since 1977. That's how to do it #Bild pic.twitter.com/nDs43xmPpC
2/2 Bild newspaper also has some tips for #Tsipras on how to save money, demonstrated by Felix, 9, from Munich pic.twitter.com/5GjEzQbbIC2/2 Bild newspaper also has some tips for #Tsipras on how to save money, demonstrated by Felix, 9, from Munich pic.twitter.com/5GjEzQbbIC
10.39am GMT10:3910.39am GMT10:39
Greece’s Ta Nea newspaper says Athens has reached out to Iran to see if it might help by buying some short-term Greek debt to tide it through the crisis.Greece’s Ta Nea newspaper says Athens has reached out to Iran to see if it might help by buying some short-term Greek debt to tide it through the crisis.
Acc to Ta Nea newspaper, #Greece ForMinistry representatives went to Tehran (wtf) in order 4 the latter to consider buying part of Gr debtAcc to Ta Nea newspaper, #Greece ForMinistry representatives went to Tehran (wtf) in order 4 the latter to consider buying part of Gr debt
#Greece |@papachristosgio report in @ta_nea re Greek MFA envoy (Tsipras' cousin) to Iran in search of Tbill investors pic.twitter.com/ZkZKWVFE4Q#Greece |@papachristosgio report in @ta_nea re Greek MFA envoy (Tsipras' cousin) to Iran in search of Tbill investors pic.twitter.com/ZkZKWVFE4Q
10.21am GMT10:2110.21am GMT10:21
The structure of today’s meeting is quite interesting.The structure of today’s meeting is quite interesting.
Angela Merkel and Alexis Tsipras are scheduled to meet around 5pm local time (4pm GMT) and talk for two hours, followed by a press conference to brief the media.Angela Merkel and Alexis Tsipras are scheduled to meet around 5pm local time (4pm GMT) and talk for two hours, followed by a press conference to brief the media.
They will then head back inside for a working dinner where issues can be hammered out.They will then head back inside for a working dinner where issues can be hammered out.
That dinner gives them more time to address their differences, and make some progress. But it also means they can avoid any full-blown rows until after they’ve faced the press.That dinner gives them more time to address their differences, and make some progress. But it also means they can avoid any full-blown rows until after they’ve faced the press.
10.10am GMT10:1010.10am GMT10:10
Both sides at today’s meeting see each other as the bad guy, tweets BBC Europe editor Katya Adler:Both sides at today’s meeting see each other as the bad guy, tweets BBC Europe editor Katya Adler:
#Tsipras may see himself as plucky David coming to visit Goliath here in #Berlin but #German media paint him as outlaw to #Merkel's sheriff#Tsipras may see himself as plucky David coming to visit Goliath here in #Berlin but #German media paint him as outlaw to #Merkel's sheriff
9.58am GMT09:589.58am GMT09:58
Berenberg: Greek situation looking desperateBerenberg: Greek situation looking desperate
Greece’s looming cash crunch (see earlier post) means it’s vital that Alexis Tsipras establishes trust with Angela Merkel tonight.Greece’s looming cash crunch (see earlier post) means it’s vital that Alexis Tsipras establishes trust with Angela Merkel tonight.
Christian Schulz, senior economist at Berenberg Bank, argues that it could be his last chance to build bridges with the chancellor:Christian Schulz, senior economist at Berenberg Bank, argues that it could be his last chance to build bridges with the chancellor:
The news out of Athens is getting more and more desperate, with the government apparently on track to run out of money in early AprilThe news out of Athens is getting more and more desperate, with the government apparently on track to run out of money in early April
Having learned the hard way that Europe cannot be blackmailed, it is difficult for us to understand why Syriza is dragging its feet on implementing the necessary reforms to secure funding and why it subjects the Greek people to deepening economic and financial crisis. Tonight, Prime Minister Tsipras has potentially his last chance to convince German Chancellor Merkel that he will ultimately do what it takes to keep Greece in the euro. If he fails to inspire any kind of trust in Berlin, securing the necessary funds to keep going, let alone the inevitable third bail-out in July, while be a fantasy.Having learned the hard way that Europe cannot be blackmailed, it is difficult for us to understand why Syriza is dragging its feet on implementing the necessary reforms to secure funding and why it subjects the Greek people to deepening economic and financial crisis. Tonight, Prime Minister Tsipras has potentially his last chance to convince German Chancellor Merkel that he will ultimately do what it takes to keep Greece in the euro. If he fails to inspire any kind of trust in Berlin, securing the necessary funds to keep going, let alone the inevitable third bail-out in July, while be a fantasy.
9.54am GMT09:549.54am GMT09:54
Last night’s Andalusian election results may suggest that Podemos is now losing ground, just a year after being founded, argues Berenberg Bank:Last night’s Andalusian election results may suggest that Podemos is now losing ground, just a year after being founded, argues Berenberg Bank:
They writes:They writes:
Is Podemos’ star sinking already?Is Podemos’ star sinking already?
After beginning to gradually fall in the polls as Spanish media turned their focus on the party’s links with Venezuela, Spain’s Syriza-equivalent Podemos failed miserably to win the election in one of Spain’s worst hit regions.After beginning to gradually fall in the polls as Spanish media turned their focus on the party’s links with Venezuela, Spain’s Syriza-equivalent Podemos failed miserably to win the election in one of Spain’s worst hit regions.
In Andalusia, where unemployment is 34%, the mainstream centre-left Socialists obtained 35.5% (down from 39.5% in 2012), the centre-right Popular Party of Prime Minister Rajoy 26.7% (down from 40.7%) and the upstart liberal party Ciudadanos 9.3%, putting pro-European parties at 71.5% together. By contrast, Podemos only collected 14.9%.In Andalusia, where unemployment is 34%, the mainstream centre-left Socialists obtained 35.5% (down from 39.5% in 2012), the centre-right Popular Party of Prime Minister Rajoy 26.7% (down from 40.7%) and the upstart liberal party Ciudadanos 9.3%, putting pro-European parties at 71.5% together. By contrast, Podemos only collected 14.9%.
#Eurozone: #Syriza's disaster deflates Europe's populist threat. http://t.co/d2sB6iem09 pic.twitter.com/tRu3x7dXM9#Eurozone: #Syriza's disaster deflates Europe's populist threat. http://t.co/d2sB6iem09 pic.twitter.com/tRu3x7dXM9
9.34am GMT09:349.34am GMT09:34
In case you missed it....Spain’s anti-austerity party, Podemos, secured third place in regional elections last night.In case you missed it....Spain’s anti-austerity party, Podemos, secured third place in regional elections last night.
Podemos won 15 seats in the Andalusia parliament, as some voters broke away from the two-party system that’s dominated Spanish politics for many years. That deprived the Socialist party of a majority, but it’s not quite the landmark moment that some Podemos supporters hoped for.Podemos won 15 seats in the Andalusia parliament, as some voters broke away from the two-party system that’s dominated Spanish politics for many years. That deprived the Socialist party of a majority, but it’s not quite the landmark moment that some Podemos supporters hoped for.
The Socialists came first with 47 seats, followed by the centre-right People’s Party with 33 seats.The Socialists came first with 47 seats, followed by the centre-right People’s Party with 33 seats.
Podemos did surge to victory in one district; Cádiz, where the unemployment rate has hit depression-era levels above 40%.Podemos did surge to victory in one district; Cádiz, where the unemployment rate has hit depression-era levels above 40%.
Related: Spanish anti-austerity party Podemos wins 15 seats in AndalusiaRelated: Spanish anti-austerity party Podemos wins 15 seats in Andalusia
9.19am GMT09:199.19am GMT09:19
How close is Greece to running out of funds?How close is Greece to running out of funds?
Germany’s Frankfurter Allgemeine newspaper reported yesterday that Athens has just two weeks to secure fresh aid before the situation becomes ‘critical’.Germany’s Frankfurter Allgemeine newspaper reported yesterday that Athens has just two weeks to secure fresh aid before the situation becomes ‘critical’.
And that’s because it faces a €465m repayments to the IMF on April 9, which could be tricky to repay unless its creditors have provided help by then (as Alexis Tsipras urged in his letter to Angela Merkel).And that’s because it faces a €465m repayments to the IMF on April 9, which could be tricky to repay unless its creditors have provided help by then (as Alexis Tsipras urged in his letter to Angela Merkel).
Greece faces further payments are due on May and June, and must also ‘roll over’ billions of euros of short term debt (or bills) each month. This chart from Bruegel shows the hurdles ahead:Greece faces further payments are due on May and June, and must also ‘roll over’ billions of euros of short term debt (or bills) each month. This chart from Bruegel shows the hurdles ahead:
Updated at 9.20am GMTUpdated at 9.20am GMT
8.49am GMT08:498.49am GMT08:49
James Bullard, president of the St. Louis Federal Reserve, has predicted this morning that Greece could leave the eurozone.James Bullard, president of the St. Louis Federal Reserve, has predicted this morning that Greece could leave the eurozone.
But speaking on CNBC, Bullard also warned it would be a mistake and leave Greeks facing a ‘bleak’ future.But speaking on CNBC, Bullard also warned it would be a mistake and leave Greeks facing a ‘bleak’ future.
#Fed's Bullard says #Grexit possible but would not be advisable, would be bleak for Greece#Fed's Bullard says #Grexit possible but would not be advisable, would be bleak for Greece
8.46am GMT08:468.46am GMT08:46
The mood in GermanyThe mood in Germany
Our Berlin correspondent, Kate Connolly, reports that German sentiment towards Greece has soured in recent months, as some lose patience with Athens’ demands for more help.Our Berlin correspondent, Kate Connolly, reports that German sentiment towards Greece has soured in recent months, as some lose patience with Athens’ demands for more help.
One Berliner, Christiane Schneider, told Kate:One Berliner, Christiane Schneider, told Kate:
“I really don’t know how much longer we should keep patting their backs and telling them everything’s going to be alright – here’s an extra 100m.“I really don’t know how much longer we should keep patting their backs and telling them everything’s going to be alright – here’s an extra 100m.
If my son kept coming to me for money to get himself out of trouble, I’d help him immediately, but I’d want to see that he was trying to get out of any mess he’d got himself into, wouldn’t I? I couldn’t afford to keep tossing banknotes in his direction.”If my son kept coming to me for money to get himself out of trouble, I’d help him immediately, but I’d want to see that he was trying to get out of any mess he’d got himself into, wouldn’t I? I couldn’t afford to keep tossing banknotes in his direction.”
Tsipras’s calls for war reparations appears to have split Germany; with some resenting the demands, but others acknowledging that it has some merit.Tsipras’s calls for war reparations appears to have split Germany; with some resenting the demands, but others acknowledging that it has some merit.
Kate writes:Kate writes:
Georg Franke, a 57-year-old market-stall holder in Potsdam, said while he believed the Greek government’s behaviour had been “childish”, he did not find its second world war compensation claims so outlandish.Georg Franke, a 57-year-old market-stall holder in Potsdam, said while he believed the Greek government’s behaviour had been “childish”, he did not find its second world war compensation claims so outlandish.
“The trouble is, Germans know a lot about the atrocities carried out in their name by the Wehrmacht and the SS against the Jews from Germany, Poland and Hungary, as well as the Slavs, but we learnt very little in school about the horrors carried out against the Greeks. It was only recently, around the 70th anniversary of the liberation of Auschwitz, that I saw a documentary which touched on how they [Jewish Greeks] were almost all wiped out and it brought it home to me.”“The trouble is, Germans know a lot about the atrocities carried out in their name by the Wehrmacht and the SS against the Jews from Germany, Poland and Hungary, as well as the Slavs, but we learnt very little in school about the horrors carried out against the Greeks. It was only recently, around the 70th anniversary of the liberation of Auschwitz, that I saw a documentary which touched on how they [Jewish Greeks] were almost all wiped out and it brought it home to me.”
Related: How German voters are losing patience with GreeceRelated: How German voters are losing patience with Greece
8.31am GMT08:318.31am GMT08:31
The FTSE 100 index of leading shares has dropped back down to the 7,000 mark in early trading, down 22 points. So no new record high yet.The FTSE 100 index of leading shares has dropped back down to the 7,000 mark in early trading, down 22 points. So no new record high yet.
Other European markets have dipped a little too, having hit seven year highs on Friday, as traders fret about the Greek debt crisis.Other European markets have dipped a little too, having hit seven year highs on Friday, as traders fret about the Greek debt crisis.
Jasper Lawler, market analyst at CMC Markets, explains:Jasper Lawler, market analyst at CMC Markets, explains:
It should prove to be another decisive week for Greece as Greek Prime Minister Tsipras is set to meet German Chancellor Merkel.It should prove to be another decisive week for Greece as Greek Prime Minister Tsipras is set to meet German Chancellor Merkel.
Athens is hoping to improve relations with its biggest EU creditor before announcing a more detailed set of reforms required to unlock the next instalment of aid.Athens is hoping to improve relations with its biggest EU creditor before announcing a more detailed set of reforms required to unlock the next instalment of aid.
Eurozone finance minister could meet again soon, if Greece produces those reforms....Eurozone finance minister could meet again soon, if Greece produces those reforms....
Updated at 9.10am GMTUpdated at 9.10am GMT
8.17am GMT08:178.17am GMT08:17
Hajo Funke, political scientist with Berlin’s Free University, says that “two worlds will collide” when Merkel and Tsipras sit down this afternoonHajo Funke, political scientist with Berlin’s Free University, says that “two worlds will collide” when Merkel and Tsipras sit down this afternoon
He explained to AFP that:He explained to AFP that:
“There is the political world of Greece, where a left-wing government faces a society in collapse, (of) societal decay... as grave as anything we have seen in western Europe since 1945.”.“There is the political world of Greece, where a left-wing government faces a society in collapse, (of) societal decay... as grave as anything we have seen in western Europe since 1945.”.
“The other world is a content country that is dominant in Europe, Germany, which worries about maintaining its economic happiness, and which is now being asked to help the other, under conditions it doesn’t fully understand.”“The other world is a content country that is dominant in Europe, Germany, which worries about maintaining its economic happiness, and which is now being asked to help the other, under conditions it doesn’t fully understand.”
8.12am GMT08:128.12am GMT08:12
German politicians hope that Alexis Tsipras will arrive in Berlin with details of the new reform plans.German politicians hope that Alexis Tsipras will arrive in Berlin with details of the new reform plans.
Thomas Oppermann, parliamentary leader of Merkel’s Social Democrat coalition partners, says Greece must deliver on the pledges made at Thursday night’s mini-summit in Brussels.Thomas Oppermann, parliamentary leader of Merkel’s Social Democrat coalition partners, says Greece must deliver on the pledges made at Thursday night’s mini-summit in Brussels.
“I expect [Mr Tsipras] to present this list in his talks with the chancellor on Monday.“I expect [Mr Tsipras] to present this list in his talks with the chancellor on Monday.
“I want to know once and for all if Greece is ready to reform or not.”“I want to know once and for all if Greece is ready to reform or not.”
Greek insiders, though, have suggested this list might not be ready until Easter....Greek insiders, though, have suggested this list might not be ready until Easter....
8.02am GMT08:028.02am GMT08:02
Tsipras: Impossible to pay debts without helpTsipras: Impossible to pay debts without help
Alexis Tsipras has raised the stakes ahead of today’s meeting with Angela Merkel by declaring that Greece cannot meet looming debt repayments without help from its creditors.Alexis Tsipras has raised the stakes ahead of today’s meeting with Angela Merkel by declaring that Greece cannot meet looming debt repayments without help from its creditors.
In a letter sent to Germany last week, Tsipras warned that the lack of bailout funds mean it is “impossible” to service debt obligations due in the coming weeks (such as debt repayments and publc sector wage bills)In a letter sent to Germany last week, Tsipras warned that the lack of bailout funds mean it is “impossible” to service debt obligations due in the coming weeks (such as debt repayments and publc sector wage bills)
He also criticised restrictions imposed by the European Central Bank which prevent Athens issuing more short-term debt to tide itself over.He also criticised restrictions imposed by the European Central Bank which prevent Athens issuing more short-term debt to tide itself over.
Tsipras urged Merkel not to allow a “small cash flow issue” to turn into a major crisis.Tsipras urged Merkel not to allow a “small cash flow issue” to turn into a major crisis.
Given that Greece has no access to money markets, and also in view of the ‘spikes’ in our debt repayment obligations during the Spring and Summer of 2015 (primarily to the IMF), it ought to be clear that the ECB’s special restrictions when combined with the disbursement delays would make it impossible for any government to service its debt obligations.Given that Greece has no access to money markets, and also in view of the ‘spikes’ in our debt repayment obligations during the Spring and Summer of 2015 (primarily to the IMF), it ought to be clear that the ECB’s special restrictions when combined with the disbursement delays would make it impossible for any government to service its debt obligations.
He added that:He added that:
Servicing these repayments through internal resources alone would, indeed, lead to a sharp deterioration in the already depressed Greek social economy – a prospect that I will not countenance.Servicing these repayments through internal resources alone would, indeed, lead to a sharp deterioration in the already depressed Greek social economy – a prospect that I will not countenance.
It suggests Tsipras will push Merkel hard tonight to unlock some of the €7.2bn bailout funds which its lenders are holding back, until they see credible reform plans.It suggests Tsipras will push Merkel hard tonight to unlock some of the €7.2bn bailout funds which its lenders are holding back, until they see credible reform plans.
The FT’s Peter Spiegel, who published the letter, has analysed the full text here:The FT’s Peter Spiegel, who published the letter, has analysed the full text here:
Tsipras letter to Merkel: the annotated textTsipras letter to Merkel: the annotated text
Monday's FT front page: Greece’s leader warns Merkel of ‘impossible’ debt payments #tomorrowspaperstoday #bbcpapers pic.twitter.com/OOymneYXy2Monday's FT front page: Greece’s leader warns Merkel of ‘impossible’ debt payments #tomorrowspaperstoday #bbcpapers pic.twitter.com/OOymneYXy2
Updated at 8.06am GMTUpdated at 8.06am GMT
7.40am GMT07:407.40am GMT07:40
The Agenda: Mr Tsipras goes to BerlinThe Agenda: Mr Tsipras goes to Berlin
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
German MPs laughed last week when Angela Merkel told them she was looking forward to meeting - and perhaps arguing - with her Greek counterpart today. But there may not be too much mirth in Berlin tonight as the chancellor hosts Alexis Tsipras for the first time.German MPs laughed last week when Angela Merkel told them she was looking forward to meeting - and perhaps arguing - with her Greek counterpart today. But there may not be too much mirth in Berlin tonight as the chancellor hosts Alexis Tsipras for the first time.
The two leaders will meet as concern swirls that Greece could soon run out of cash, unless it can satisfy its creditors.The two leaders will meet as concern swirls that Greece could soon run out of cash, unless it can satisfy its creditors.
Tsipras has told Greek media that the meeting with Merkel is an opportunity to talk “without the pressure of any negotiation”. His officials are busy working on new economic reform plans which will, they hope, finally persuade its creditors to hand over some bailout funds.Tsipras has told Greek media that the meeting with Merkel is an opportunity to talk “without the pressure of any negotiation”. His officials are busy working on new economic reform plans which will, they hope, finally persuade its creditors to hand over some bailout funds.
But the meeting comes after two months of rising tensions between the two countries since Tsipras won power in late January, and began pushing for a new debt deal.But the meeting comes after two months of rising tensions between the two countries since Tsipras won power in late January, and began pushing for a new debt deal.
His call for war reparations has raised the tensions in Germany too.His call for war reparations has raised the tensions in Germany too.
And back home, Tsipras also faces pressure from hard-line members of his own party who fear he may cave in to eurozone demands.And back home, Tsipras also faces pressure from hard-line members of his own party who fear he may cave in to eurozone demands.
Athens correspondent Helena Smith reported last night:Athens correspondent Helena Smith reported last night:
On both sides, the talks are being seen as a “moment of truth.” Greece has made clear, under its new government, that it does not want to leave the eurozone and Tsipras his point that austerity needs to be eased. In Athens officials are putting on a brave face.On both sides, the talks are being seen as a “moment of truth.” Greece has made clear, under its new government, that it does not want to leave the eurozone and Tsipras his point that austerity needs to be eased. In Athens officials are putting on a brave face.
“We are looking forward to this meeting,” said the Greek government spokesman Gavriel Sakellarides. “There’s a good chemistry between the two leaders. It’s much better that they talk directly to one another.“We are looking forward to this meeting,” said the Greek government spokesman Gavriel Sakellarides. “There’s a good chemistry between the two leaders. It’s much better that they talk directly to one another.
But many also fear that in a bid to douse dissent within his own party, Tsipras is trying to buy time hoping that fellow anti-austerians are elected elsewhere in Europe. And that Merkel, bowing to rising anti-Greek sentiment among her own constituency, will also push too hard.But many also fear that in a bid to douse dissent within his own party, Tsipras is trying to buy time hoping that fellow anti-austerians are elected elsewhere in Europe. And that Merkel, bowing to rising anti-Greek sentiment among her own constituency, will also push too hard.
Related: 'Moment of truth' for Greece and the euro as Tsipris arrives in BerlinRelated: 'Moment of truth' for Greece and the euro as Tsipris arrives in Berlin
The meeting starts in mid-afternoon, with a press conference scheduled before a ‘working dinner’:The meeting starts in mid-afternoon, with a press conference scheduled before a ‘working dinner’:
Greek PM Tsipras & German Chancellor Merkel meeting agenda (GMT): 1600 - Meeting 1800 - Presser 1900 - Working dinnerGreek PM Tsipras & German Chancellor Merkel meeting agenda (GMT): 1600 - Meeting 1800 - Presser 1900 - Working dinner
Also coming up today, ECB president Mario Draghi is testifying to the European Parliament’s economic and monetary affairs committee.Also coming up today, ECB president Mario Draghi is testifying to the European Parliament’s economic and monetary affairs committee.
Draghi may sound more confident about economic prospects, given recent signs of recovery in the euro area.Draghi may sound more confident about economic prospects, given recent signs of recovery in the euro area.
Stan Shamu of IG says:Stan Shamu of IG says:
Given all the measures that have been introduced by the ECB and signs of bottoming in data, there is a good chance Mr Draghi will give a more upbeat assessment of the economy.Given all the measures that have been introduced by the ECB and signs of bottoming in data, there is a good chance Mr Draghi will give a more upbeat assessment of the economy.
Draghi’s should also field questions on the Greek crisis, given the ECB is effectively keeping its banks alive with vital liquidity support.Draghi’s should also field questions on the Greek crisis, given the ECB is effectively keeping its banks alive with vital liquidity support.
Two pieces of economic data to watch out for:Two pieces of economic data to watch out for:
And European stock markets are expected to rise this morning, with the FTSE 100 on track to hit a fresh all-time high after breaking through the 7,000-point mark on Friday.And European stock markets are expected to rise this morning, with the FTSE 100 on track to hit a fresh all-time high after breaking through the 7,000-point mark on Friday.
I’ll be tracking all the main events through the day....I’ll be tracking all the main events through the day....
Updated at 7.48am GMTUpdated at 7.48am GMT