FXStreet (Edinburgh) – Analyst Jim Reid at Deutsche Bank assessed the recent Greek headlines.
Key Quotes
“Along with the bond market, Greece dominated headlines once again last night”.
“Following a meeting in Brussels with the EC’s Juncker and Dutch Finance Minister Dijsselbloem late last night, Greek PM Tsipras was noted as saying that the two sides were ‘very close’ on primary surplus targets and that there was a ‘constructive’ will from the European Commission to reach a common understanding”.
“The bad news however, was that Tsipras also acknowledged that differences still remain, particular around pension reforms”.
“The PM was quoted as saying that ‘the realistic proposals on the table are the proposals of the Greek government’ and that we can’t make the same mistakes as in the past”.
“With talks set to continue today, focus will turn to Friday’s IMF repayment”.
“Last night’s comments from Tsipras – when questioned by reporters about whether or not Greece will make Friday’s obligation – will fuel hope that the payment will be made after the PM said not to worry about it and that Greece had also already repaid billions to the fund”.
“These contradict earlier comments from a Syriza spokesman on Greek TV who said that ‘if there is no prospect of a deal by Friday, we will not pay’”.
(Market News Provided by FXstreet)