FXStreet (Edinburgh) – Jim Reid, Analyst at Deutsche Bank, reviewed the recent events in the Greek front.
Key Quotes
“Ahead of the summit and in a meeting between German Chancellor Merkel and French President Hollande, Merkel reiterated that the ‘door for talks remains open’ but that ‘time is running out’ and that it will be ‘very important’ for Tsipras to present a plan for moving forward at today’s summit”.
“Hollande largely echoed those views, saying that ‘the door is open to discussions’ and that ‘it’s up to the government of Tsipras to make serious credible proposals’.
“Elsewhere, having been quoted on ORF TV after the US close, Governing Council Member Nowotny suggested that a bridge loan to Greece under certain preconditions before an ESM program is agreed is a possibility”.
“Nowotny did also downplay any hopes of reaching an accord with Greece this week”.
(Market News Provided by FXstreet)