FXStreet (Edinburgh) – Analyst Jim Reid at Deutsche Bank reviews the recent developments in the Greek-EU debt talk scenario.
Key Quotes
“Moving on, the Greece saga continues with headlines aplenty”.
“Yesterday we heard more push back from the European side that Greece and its Creditors are still not in agreement and seemingly still struggling to come to terms on reforms”.
“The IMF’s Lagarde was noted as saying that ‘things have moved, but there is still a lot of work to do’ in comments on German TV ARD”.
“The European Economic Commissioner Moscovi said that the two sides are ‘certainly not the three quarters of the way’ and that ‘we need to work day and night’.
“The comments from the Greek side continue to paint a picture of progress and hope that a deal is imminent, which has been in stark contrast to the comments from the Creditors for some time now”.
“Greek government spokesman Sakellaridis said yesterday that ‘this optimism is not just words, it is based on the experience of the previous weeks and the progress achieved’.
“Greece has seemingly over emphasised the ‘progress’ and achievement in negotiations for months now, so it’s worth being careful over interpreting most headlines coming from the Greece side”.
(Market News Provided by FXstreet)