FXStreet (Edinburgh) – Analyst Jim Reid at Deutsche Bank remarks the failure in the negotiations between Greece and its creditors over the last weekend.
Key Quotes
“Weekend talks between the Greek government and its Creditors ended without agreement with the key sticking points around fiscal targets and pension and labour reforms still outstanding”.
“Despite PM Tsipras saying that talks were ‘constructive’ between himself and Germany’s Merkel and France’s Hollande, as well as comments from the EU’s Oettinger that he sees a chance of a Greek solution in the coming days, there was a familiar defiant stance from Tsipras and one which showed signs of strain in an op-ed published by French newspaper Le Monde on the weekend”.
“In it, Tsipras said that ‘the lack of an agreement so far is not due to the supposed intransigent, uncompromising and incomprehensible Greek stance’, but rather ‘it is due to the insistence of certain institutional actors on submitting absurd proposals and displaying a total indifference to the recent democratic choice of the Greek people’.
“Meanwhile, a senior Eurozone official was quoted in the Guardian as saying that ‘it is a lie that there is any optimism, there is no optimism’ and that ‘what the so-called optimism is about is stopping the panic-stricken Greeks withdrawing deposits from banks’.
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