Despite what some call a triumphant win in a popular vote against austerity, Greece’s government is scrambling to mend relations with European creditors.
Greek lawmakers trying to heal ties with its European creditors, after word the Eurpoean Central bank won’t release extra emergency funds to the struggling country.
Time is running out for a bailout deal. Some investors hope the resignation of Yanis Varoufakis on Monday may well help smooth negotiations.
Economists believe if the country can’t secure a financial rescue deal, it could fall out of the eurozone.
“It seems untenable that Greece can slide out of the Eurozone with barely a whimper being heard in financial markets, but right now that’s what it looks like,” said Tony Cross, market analyst at Trustnet Direct.
Greek Prime Minister Alexis Tsipras is expected to reveal proposals to the country’s creditors.
Meanwhile the situation in Greece provided political fuel in Canada’s parliament as Conservatives and NDP used questions about Greece’s future to attack one another on their economic platforms.
Tom Mulcair made comments about his belief that the Canadian government should have given money to a global fund to prop up faltering European banks.
— European Commission (@EU_Commission) July 7, 2015