FTSE treads water as Greece fights €5bn default

Greece is fighting to avoid a €5bn default by renegotiating the terms of its €174bn bailout. The payment is due this week, but Greece is currently in talks with European leaders about getting an extension. According to the FT Greece can only raise €3.5bn of the €5bn it owes the European Central Bank. European finance chiefs are meeting later this afternoon to attempt to renegotiate the country's financing and maintain Greek solvency. However, with so much remaining unclear, the FTSE 100 is flat thisd morning as investors wait for developments to unfold. By 09:40am, the index was up...