20 Mar 2015
Greece: Incompetent lunatics or masterly strategists? – ING
FXStreet (Barcelona) - Carsten Brzeski of ING comments on the Greece-EU meeting, and shares both the optimistic and pessimistic views for the same.
Key Quotes
“Last night’s European mini-summit between Greek, German and French leaders as well as European Commission president Juncker, Council president Tusk, ECB president Draghi and Eurogroup chairman Dijsselbloem did not deliver any new results.”
“The tone after the meeting was friendly, cooperative and hopeful but on the details nothing has changed. In fact, the terms of the 20 February deal have not changed and it is still unclear what the exact Greek plans are.”
“Official comments after the meeting suggest that EU leaders give Greece yet another chance for a face-saving compromise.”
“Greece promised to submit a new list with reform proposals, which will then be assessed by the European partners. But this had also been promised after the 20 February meeting.”
“Incompetent lunatics or masterly strategists? In the first weeks after the Greek elections, this question kept many market participants busy. Almost two months after the elections, many questions are still unanswered.”
“For the optimists, last night’s mini-summit could have been the start of more constructive and less hostile negotiations and finally the opening for still a typical European compromise.”
“For the pessimists, it might have been only a friendly and diplomatic way to say that the Eurozone’s patience is wearing extremely thin.”
Key Quotes
“Last night’s European mini-summit between Greek, German and French leaders as well as European Commission president Juncker, Council president Tusk, ECB president Draghi and Eurogroup chairman Dijsselbloem did not deliver any new results.”
“The tone after the meeting was friendly, cooperative and hopeful but on the details nothing has changed. In fact, the terms of the 20 February deal have not changed and it is still unclear what the exact Greek plans are.”
“Official comments after the meeting suggest that EU leaders give Greece yet another chance for a face-saving compromise.”
“Greece promised to submit a new list with reform proposals, which will then be assessed by the European partners. But this had also been promised after the 20 February meeting.”
“Incompetent lunatics or masterly strategists? In the first weeks after the Greek elections, this question kept many market participants busy. Almost two months after the elections, many questions are still unanswered.”
“For the optimists, last night’s mini-summit could have been the start of more constructive and less hostile negotiations and finally the opening for still a typical European compromise.”
“For the pessimists, it might have been only a friendly and diplomatic way to say that the Eurozone’s patience is wearing extremely thin.”