SHANGHAI, Jul. 13 (SMM) – Nine hours of talks on Saturday ended without agreement on an additional bailout for Greece. Ministers have expressed skepticism Greece will implement the austerity measures it has proposed. A summit of all European Union members planned for Sunday has been cancelled. A plan drafted by Berlin’s finance ministry laid out two options for Greece: either the government submits to drastic measures such as placing EUR 50 billion of its assets in a trust fund to pay off its debts, and have Brussels take over its public administration, or agree to a “time-out” solution where it would be expelled from the eurozone.
The CSRC announced a document July 12 to ban illegal activities in securities, which forbids irregular operations in securities through sub-accounts. Premier Li Keqiang also expressed China is confident to maintain economy within a rational range.
European and US stocks rose across the board last Friday. EUR:USD surged, with the US dollar index down 0.66%. LME base metals prices were mixed. LME aluminum, zinc and tin prices were upbeat.