Athens has officially requested a six-month extension of its loan agreement with the EU, saying it will meet its obligations but refuse further austerity measures. The EU says the Greek proposals could pave the way for a compromise, although Germany has reacted with scepticism. Michael Ingram of BGC Partners talks us through the market response, and gives his take on the chances of a "Grexit" and what he calls the Greek government’s "tri-lemma".
