FXStreet (Edinburgh) – Jim Reid, Analyst at Deutsche Bank, reviews the last developments from Greece.
Key Quotes
“A report in Greek press Ekathimerini caught the eye with the article noting a Greek official as saying that Athens would consider an extension on the current programme until March 2016”.
“The official stated that this would be considered should lenders also agree to provide funds from the European Stability Mechanism and purchase the Greek bonds that the ECB bought through its SMP scheme (and so therefore seen as reducing its funding needs over the coming months)”.
“Meanwhile, the ECB yesterday raised the ceiling on the ELA facility by the most since early February (€2.3bn)”.
“Concluding a busy day for Greece, S&P downgraded the sovereign rating further into junk territory (one notch to CCC)”.
(Market News Provided by FXstreet)