Bloomberg

By Catherine Bosley & Alessandro Speciale

With a solution to the Greek crisis still out of reach, Mario Draghi can count on at least one piece of good news this week: euro-area consumer prices are rising again.

Gold sales to Switzerland have once again helped Turkey narrow its trade gap, this time dramatically to $4.96 billion in April from $7.3 billion for the same month the previous year, according to figures released by the Turkish Statistical Institute (TÜ?K) on May 29.      

The 31.9 percent decline followed an increase of 17.2 percent in March.

By Ian Wishart & Hans Nichols

Talks on a possible third bailout for Greece can begin once its government bridges ?substantial? differences with creditors over its current loan arrangement, European Union economics commissioner Pierre Moscovici said.

By Ian Wishart & Hans Nichols

Greece's creditors said a deal to unlock rescue aid isn't imminent as they demanded the debt-ravaged nation make stronger commitments to overhaul its economy.

Greek government officials’ optimism over a deal with institutional creditors to unblock more than seven billion euros left over from the second bailout was not apparently shared on Wednesday throughout euro land.

By Lukanyo Mnyanda

Currency traders are more pessimistic on the euro than at any time since Greece secured a provisional funding deal with creditors three months ago.

By Nikos Chrysoloras

Greek officials will revive their bid to access financial aid with finance minister Yanis Varoufakis blaming creditors' insistence on more austerity for the impasse.

German Finance Minister Wolfgang Schaeuble reportedly “cited” a … “Montenegro” scenario for debt-laden and recession-plagued Greece on Friday, i.e. a parallel currency.

According to Bloomberg, under such a scenario the euro would be used in the country along with a new (local) currency if ongoing talks with creditors languish.

The European Central Bank’s (ECB) governing council on Wednesday continued its “Chinese water torture” by increasing the cap on emergency liquidity (ELA) by a mere 200 million euros for Greece’s systemic banks, even as Athens had requested 1.1 billion.

The total limit now is 80.2 billion euros.

As Greece’s leftist government try and edge closer to a crucial deal with creditors, German Finance Minister Wolfgang Schaeuble on Tuesday partially dampened hopes that negotiations will soon conclude, saying talking were going too slowly.