Greece loan repayment to the IMF looms Tuesday

Greece EUR1.6bn loan repayment to the IMF is due on Tuesday. The ongoing negotiations between the Greek government and the creditor institutions continue to be in focus as no deal has been reached yet. 

The deadline for reaching a deal seems to have moved into this weekend, as another euro group meeting has been confirmed for Saturday. If no deal is reached over the weekend, it is increasingly likely a bank deposit freeze will be introduced on Monday as the deposit flight from Greek banks would most likely resume. 

"We still believe an accord will be reached in time and it seems that the differences have narrowed recently." says Danske Bank Markets