26 May 2015
Gap between Greece and creditors still wide – Danske Bank
FXStreet (Edinburgh) - Sverre Holbek, Senior Analyst at Danske Bank, noted the lack of progress in the negotiations between Greek officials and its EU peers.
Key Quotes
“Over the weekend, the Greek Interior Minister Voutsis warned that the country is unable to meet the four IMF instalments in June amounting to EUR1.6bn”.
“While Greece was able to meet a EUR0.8bn payment earlier this month after Prime Minister Tsipras made a similar threat, this was done only after tapping an emergency account held by the IMF”.
“Meanwhile, Tsipras appears to have won backing from his party to conclude a bail-out deal, despite internal opposition from hardline fractions within Syriza”.
“However, Greece and its creditors still appear far apart, with the Greek government so far unwilling to discuss pension reforms and increases in the value-added tax”.
Key Quotes
“Over the weekend, the Greek Interior Minister Voutsis warned that the country is unable to meet the four IMF instalments in June amounting to EUR1.6bn”.
“While Greece was able to meet a EUR0.8bn payment earlier this month after Prime Minister Tsipras made a similar threat, this was done only after tapping an emergency account held by the IMF”.
“Meanwhile, Tsipras appears to have won backing from his party to conclude a bail-out deal, despite internal opposition from hardline fractions within Syriza”.
“However, Greece and its creditors still appear far apart, with the Greek government so far unwilling to discuss pension reforms and increases in the value-added tax”.