12th June 2015 11:55 clock

Business, Greece, Dax, stock market, Greece, Angela Merkel, International Monetary Fund, Jean-Claude Juncker, Alexis Tsipras, Chancellor, stock market, European Commission, EU-Latin America summit, François Hollande, trade, climate, Euro, hope, Prime Minister, Athens, Brussels

The Greek crisis – here The Acropolis – dampens the mood on the stock markets. | © Sven Hoppe / dpa

The setback in the negotiations over the Greek debt has brought a decline in the Dax. The German leading index fell in early trading 0.49 percent to 11,277.60 points. In weekly view, the former Plus is thus shrunk to almost one percent. The Euro Stoxx 50 index of the euro zone as a lost 0.34 percent.

The stock market in Athens responded by sharp price fluctuations in the current struggle in the debt dispute. The benchmark index lost more than four percent, after there had been an increase of eight per cent on Thursday. The Greek banking index fell by about eight percent.

Even on Wednesday, the Dax had briefly benefited from that suggested a slight improvement in the debt dispute. Hopes for an agreement had the Dax driven on Wednesday at 2.40 percent up. Greek Prime Minister Alexis Tsipras had vowed after a meeting with German Chancellor Angela Merkel and French President Francois Hollande on the edge of the EU-Latin America summit on Wednesday evening in Brussels the “very good and constructive atmosphere”. The benchmark index moved on Thursday afternoon at 1.13 percent to 11,392.31 points.

After the International Monetary Fund (IMF) had intensified its pressure on Thursday on Greece and its negotiators initially withdrawn from Brussels, it was filed German index down immediately by around 100 points. At the end of the stock market barometer rescued still an increase of 0.60 percent. IMF spokesman Gerry Rice had said after the withdrawal that it “still substantial differences in crucial points” give.

The government in Athens is hoping for an agreement at the next meeting of euro zone finance ministers on June 18, , In the words of European Commission President Jean-Claude Juncker, the discussions between donors and Greece to be quickly resumed. The utility of Athens runs from the end of June. By the end of the month, the IMF of Greece expects a repayment of 1.6 billion euros.