FXStreet (Bali) – Sunday’s referendum appears too close to call, notes George Saravelos, Strategist at Deutsche Bank.
Key Quotes
Sunday’s referendum appears too close to cal. Irrespective of the outcome however, there is unlikely to be an immediate resolution to the crisis the next day.”
“A “yes” vote would be significantly more likely to lead to a quicker agreement with the creditors, but not without risks.”
“A “no” vote would open a wider range of possibilities. This notwithstanding, any agreement would likely require change that leads to a re-building of trust between Greece and its creditors.”
“Ultimately, the continued strong pressure on the Greek economy and the government’s weak cash position will remain important catalysts for future developments, irrespective of this weekend’s referendum.”
(Market News Provided by FXstreet)