FXStreet (Edinburgh) – Lee Hardman, Currency Analyst at BTMU, reviewed yesterday’s events in Greece.
Key Quotes
“Greek Prime Minister Tsipras resigned yesterday after securing a third bail-out package for Greece”.
“He stated that he now wants “the Greek people to have their say…and with your vote you will show who can lead Greece on the difficult but promising road ahead of us, and how. With your vote you will judge us all”.
“A government official stated that a fresh election could be held as soon as the 20th September. Syriza will seek a fresh mandate to govern after suffering internal divisions when pushing through reforms required for the third bail-out package, and having to rely on support from the other main pro-European parties”.
“Moody’s has stated that the announcement “could elevate programme implementation concerns and, potentially, puts future official sector disbursements at risk”.
“However, it would appear likely that fresh elections will result in a new government in favour of the implementing the third bail-out package having limited negative impact on the euro”.
(Market News Provided by FXstreet)