European stocks declined amid investor concern that Greek Finance Minister Yanis Varoufakis won™t reach an agreement on new bailout terms at a meeting with his euro-area counterparts in Brussels.
The Stoxx Europe 600 Index fell 0.2 percent to 372.04 at the close of trading, after earlier losing as much as 0.5 percent. The yield on three-year Greek notes jumped 125 basis points to 20.76 percent, while the ASE Index lost 4 percent, the most among 18 western-European markets. Benchmark equity indexes in Spain and Portugal slid at least 1.3 percent.
German Finance Minister Wolfgang Schaeuble late Tuesday damped hopes of a compromise at today™s 5:30 p.m. emergency meeting, saying there are no plans to discuss a new agreement. Still, Greek Prime Minister Alexis Tsipras said there is œno way back for his government, and he wants a new accord that won™t subject his people to more pain.
Greece is seeking support for a 10 billion-euro ($11.3 billion) bridge plan to stave off a funding crunch and buy time to win an easing in austerity terms from creditors. Any deal would require a softening of Germany™s stance.
Source : Bloomberg