European stocks rebound as Greece’s creditors table own proposal




European stock markets rebounded on Thursday as jittery investors pinned their hopes for a deal to avert a Greek default on a proposal from its creditors, as negotiations with Athens have so far produced no agreement.

The market’s assumption this week has been that a deal would eventually be reached after European officials said on Monday and Tuesday a proposal from Greece was a good basis for talks.

No progress has been achieved after that proposal and negotiations stumbled on Wednesday, with euro zone finance ministers accusing Greece of refusing to compromise ahead of a deadline next week when an International Monetary Fund loan tranche of 1.6 billion euros comes due.

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