Greece's Tsipras to Meet with Germany's Merkel; Says 'Impossible' to Meet Upcoming Obligations (NBG)

National Bank of Greece (NYSE: NBG) is bid higher Monday morning amid continuing talks over Greece's bailout.

Greek Prime Minister Alexis Tsipras is slated to meet with German Chancellor Angela Merkel on Monday to discuss requirements being imposed on Greece in order to receive fresh round of bailout money.

Tsipras believes it will be impossible for Greece to meet its debt obligations over the coming weeks should it not be approved for additional funds.

In a recent letter sent to Merkel, Tsipras said Greece will need to decide between paying off loans or continue social spending. He believes the European Central Bank's limits on Greece being able to issue short-term debt and the refusal of creditors to distribute more aid before Greece adopts a new set of economic reforms are key items preventing the country to meet its obligations.

Shares of NBG are up over 4 percent following an 11.7 percent close higher last Friday.

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