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Markets rise as hopes of Greek debt deal defy mixed messages

Markets rise as hopes of Greek debt deal defy mixed messages
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It is a bit like “Will she, won’t she?” with Greek debt at the moment.

Like a reluctant bride being dragged to the altar to honour a faded promise, Greece is blowing hot and cold about debt default. On Wednesday EU officials in Greece appeared to be getting different info to Brussels staffers.

The markets ignored the crossed lines, and as they are paying for the reception they have started the party early, with all the major exchanges rising strongly on belief the Greeks will forge a deal. The twitter photo shows how incredulous some Brussels old hands see the talks process.

“We have made many steps forward and we are on the final course, we are close to a deal… it is obvious, we need to stay calm and decisive. We are not alone, we have to deal with three different institutions with often contradictory views,” said Prime Minister Alexis Tsipras.

In reality however there is little more than Mr Tsipras’s smile and confidence driving Greece’s debt talks forward. The hard inescapable truth of a serious cash flow problem remains unchanged.