23 Mar 2015
Greek debt developments remain in focus – BTMU
FXStreet (Barcelona) - With Greek PM Tspiras commenting that it would be “impossible” for Greece to service debt obligations unless any assistance is facilitated soon, Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ, notes that near-term risks for EUR exists because of a probable Greek contagion.
Key Quotes
“It has been reported today in the FT that Greek Prime Minister Tsipras has warned German Chancellor Merkel that it will be “impossible” to service their debt obligations in the coming weeks if the EU fails to disburse any short-term financial assistance. The letter was written ahead of today’s scheduled meeting in Berlin between Greek Prime Minister Tsipras and German Chancellor Merkel.”
“Spanish Finance Minister Luis de Guindos also speaking to the FT today has stated strongly that his euro-zone counterparts would not sign off on any new bailout funding until a full set of approved reforms was passed and implemented by the Greek authorities.”
“The latest developments regarding Greece still remain largely a side show for euro direction in the near-term, although still represent downside tail risks for the euro if relations between the Greek government and its European creditors break down.”
Key Quotes
“It has been reported today in the FT that Greek Prime Minister Tsipras has warned German Chancellor Merkel that it will be “impossible” to service their debt obligations in the coming weeks if the EU fails to disburse any short-term financial assistance. The letter was written ahead of today’s scheduled meeting in Berlin between Greek Prime Minister Tsipras and German Chancellor Merkel.”
“Spanish Finance Minister Luis de Guindos also speaking to the FT today has stated strongly that his euro-zone counterparts would not sign off on any new bailout funding until a full set of approved reforms was passed and implemented by the Greek authorities.”
“The latest developments regarding Greece still remain largely a side show for euro direction in the near-term, although still represent downside tail risks for the euro if relations between the Greek government and its European creditors break down.”