FXStreet (Barcelona) – The Brown Brothers Harriman note that the any negotiations between Greece and its creditors will only resume after the referendum on Sunday, and further shares Juncker’s comments that the Greek government never really wanted a deal.
Key Quotes
“The official creditors have made it clear that there is no scope to resume negotiations with Greece until after the referendum. There have been several polls published. They generally appear to show a shift toward the government’s position to reject the creditors’ demands (for a program that no longer exists) since the capital controls began biting.”
“EC’s Juncker said that when Greece summarily left the negotiating table, the difference between the two sides was €60 mln.”
“Juncker suggested that the Greek government never really wanted a deal. Yet it seemed ill-prepared to deal with the consequences. The €60 ATM withdrawal limit has become in effect €50 euros because, according to reports, ATMs have quickly run out of €20 euro notes.”
“Meanwhile, the access to pensions has been tightened. Last week, the government indicated pensions would be fully accessible. On Monday, they were limited to €240, and on Tuesday to €120.”
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