NEW YORK (TheStreet) -- Shares of the National Bank of Greece (NBG) are higher by 2.86% to $1.44 in mid-afternoon trading on Wednesday, following reports that the debt riddled country's creditors are ready to compromise in order to avoid a default.
Creditors' willingness to compromise comes even as Greece has warned that it may skip an IMF loan payment that is due this week, Reuters reports, adding that after months of tense negotiations the creditors have come up with a "take-it-or-leave-it" offer.
Greece's Prime Minister Alexis Tsipras is in Brussels meeting with senior European officials and hearing terms of a plan created by the IMF, European Commission, and the European Central Bank.
The prime minister has drawn up his own plan, Reuters noted, saying that Tsipras intends on discussing this in Brussels and is calling on euro zone partners to show some "realism" and is pushing a deal that would allow the country an escape from "economic asphyxiation."
"We are a few days or hours away from a possible deal on Greece. Asking too much of Greece could stifle growth. But asking too little would have consequences for the euro zone as a whole," said French President Francois Hollande, Reuters said.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented on Greece today in a post on RealMoney.com. Here is a snippet of what Cramer had to say:
Do we focus on Greece too much? Do the media overplay its importance? Are the 11 million people in this small country really able to bring down a continent with 742 million people?