17 Jun 2015
Greece developments pose external risk for Fed to consider – BTMU
FXStreet (Barcelona) - According to Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ, the recent Greece developments with PM Tsipras denouncing a compromise plan and the possible reaction by the eurozone leaders remain a key risk for Fed to consider.
Key Quotes
“The euro continues to remain within a consolidation phase at lower levels in the near-term. The latest negative developments in Greece are having a very limited impact on euro direction so far despite some tentative signs of contagion in the euro-zone bond market.”
“Confrontational comments from Greek Prime Minister Tsipras yesterday have raised further doubts that an agreement will be reached at this week’s Eurogroup meeting. Greek Prime Minister Tsipras angrily denounced a compromise plan presented by their creditors as “humiliating for our people” and accused the IMF of “criminal responsibility” for the Greece’s economic situation.”
“It is already being reported that contingency plans are in place should an agreement not be reached including a possible emergency summit of euro-zone leaders on Sunday. The imposition of capital controls in Greece is also under discussion.”
Key Quotes
“The euro continues to remain within a consolidation phase at lower levels in the near-term. The latest negative developments in Greece are having a very limited impact on euro direction so far despite some tentative signs of contagion in the euro-zone bond market.”
“Confrontational comments from Greek Prime Minister Tsipras yesterday have raised further doubts that an agreement will be reached at this week’s Eurogroup meeting. Greek Prime Minister Tsipras angrily denounced a compromise plan presented by their creditors as “humiliating for our people” and accused the IMF of “criminal responsibility” for the Greece’s economic situation.”
“It is already being reported that contingency plans are in place should an agreement not be reached including a possible emergency summit of euro-zone leaders on Sunday. The imposition of capital controls in Greece is also under discussion.”