FXStreet (Edinburgh) – Currency Analyst at BTMU Lee Hardman has assessed the recent developments in Greece after the Parliament vote.
Key Quotes
“German Finance Minister Schauble has stated that euro-zone finance ministers are assuming that the IMF will decide in October to make a financial contribution”.
“Eurogroup President Dijsselbloem has stated that “we stand ready if necessary to consider more debt-related measures” with a debate on whether more needs to be done now or later expected in October as well”.
“Further debt relief is likely to be key condition of whether the IMF decides to make a financial contribution”.
“IMF Chief Lagarde stated after the Eurogroup meeting that the euro-zone needs to make concrete commitments to provide significant debt relief, well beyond what has been considered so far”.
“German Chancellor Merkel has stated that she has no doubts that the IMF will come on board and that there was room for manoeuvre for debt relief through loan extensions and lowered interest rates”.
“The developments provide reassurance that developments regarding Greece appear unlikely to return as a major market concern/driver this year”.
(Market News Provided by FXstreet)