Grexit fears ease as Athens optimistic about a deal with creditors

(Vatican Radio)  Greek banks and ATM machines were working normally in Athens on Monday after a weekend of speculation that they might not, as the Greek government insisted that talks on a deal with creditors were making progress.

Listen to the report by John Carr:

Upbeat reports were emerging from Brussels, where Prime Minister Alexis Tsipras and his economic team are again huddling to break the weeks-old logjam that has had many Greeks emptying their bank accounts.

In a swing of the emotional pendulum, the Athens Stock Exchange general index shot up by 8 percent shortly after the start of trading this morning. Helping boost morale was a fresh injection of emergency liquidity from the European Central Bank to help keep Greece’s banks afloat.

Commentators in Athens believe Tsipras wants to avoid a Grexit at any cost, even though a large part of his left-wing Syriza party is urging him to split with the eurozone and look to Russia as the main economic partner.

What appears certain is that most Greeks are by now exhausted by the emotional roller-coaster of a Grexit possibility and will welcome any deal as long as it delivers a bit of economic stability.