Tsipras to press EU leaders on Greek deadlock at eastern summit

By Nikos Chrysoloras and Rebecca Christie

Greek Prime Minister Alexis Tsipras plans to press fellow European Union leaders to help resolve the deadlock in talks with creditors, inserting his country?s crisis into an EU summit intended to discuss eastern Europe.

Tsipras will raise the standoff in bailout negotiations on the sidelines of talks to be held May 21-22 in Riga, Latvia, according to a Greek government official. Another European official said Tsipras was expected to attend the summit, while saying that Greece is not on the meeting?s agenda. Both officials asked not to be named as the diplomacy is not public.

European policy makers are giving few clues on the state of Greece?s crisis negotiations as investors try to figure out just how much money the country has left in its coffers after surviving another week. The 110-day-long standoff has triggered a liquidity squeeze, pulling the country back into a double-dip recession, amid renewed doubts over its place in the euro area.

?Even if they have a deal before the bailout extension ends at the end of June, we don?t think they?ll get access to the full remaining 7.2 billion [euros] ($8.2 billion) of the current bailout extension,? Stephen Gallo, the European head of currency strategy at Bank of Montreal in London, said in an interview on Bloomberg Television. With the European Central unlikely to ?rush in? and buy Greek bonds, the situation in Greece ?is not over for a long time,? he said.

Yields Rise

The yield on Greek 10-year bonds was up 9 basis points at 10.65 percent as of 12:56 a.m. Athens time on Friday. The yield climbed to as high as 13.93 percent in April, the highest since December 2012, after dropping to as low as 5.52 percent in 2014. Greek securities have...