18 Feb 2015
Greece extension demand….. a bluff? – Investec
FXStreet (Barcelona) - Jonathan Pryor, Head of FX dealing at Investec, comments on Eurogroup and Greece’s stance on the bailout extension, quoting that “Greece may decide to play ‘chicken’ and see who caves first”.
Key Quotes
“... there is still no resolution for Greece. Although it would be prudent to agree new terms by Friday, to ensure local governments in the Eurozone can pass the new agreement, Greece may decide to play 'chicken' and see who caves first, as they could survive a short while with current funding before liquidity becomes an issue for their banks. A bluff? Perhaps..."
“One thing is for sure, the longer this continues the more likely it is to weigh on the Euro.”
“For now the Euro remains solid enough, as the market seems to be looking for an eleventh hour agreement..”
Key Quotes
“... there is still no resolution for Greece. Although it would be prudent to agree new terms by Friday, to ensure local governments in the Eurozone can pass the new agreement, Greece may decide to play 'chicken' and see who caves first, as they could survive a short while with current funding before liquidity becomes an issue for their banks. A bluff? Perhaps..."
“One thing is for sure, the longer this continues the more likely it is to weigh on the Euro.”
“For now the Euro remains solid enough, as the market seems to be looking for an eleventh hour agreement..”