19 Jun 2015
A Greece debt deal might be reached in the coming week – Danske
FXStreet (Barcelona) - The recent Eurogroup meeting didn’t lead to any result in the Greece-EU debt deal negotiations, but a last minute deal is likely in the coming week, according to Arne Lohmann Rasmussen, Chief Analyst at Danske Bank.
Key Quotes
“As expected yesterday’s Eurogroup meeting did not result in a deal between the EU and Greece. Instead euro-area leaders will hold an emergency summit on Monday. We are getting closer to crunch time now and a deal will have to be reached next week if Greece is to meet the deadline of the IMF payment of USD1.7bn at the end of the month.”
“In Greece thousands of Greeks protested against the government and in favour of the euro adding pressure on its leaders to reach a solution.”
“According to several sources, the ECB plans to hold an emergency session of its Governing Council today to discuss the deteriorating liquidity situation of Greek banks. It is scheduled for noon and will consider a request from the central bank of Greece to increase the Emergency Liquidity Assistance by more than EUR3bn.”
“We believe that this is a crisis that will not be solved until the last minute and we still expect that an agreement will be reached in the coming week. Of course, the risk of an ‘accident’ rises the closer they move to the edge but we believe too much is at stake and a deal will be struck at some point during next week with German chancellor Angela Merkel playing a key role in bridging the differences.”
Key Quotes
“As expected yesterday’s Eurogroup meeting did not result in a deal between the EU and Greece. Instead euro-area leaders will hold an emergency summit on Monday. We are getting closer to crunch time now and a deal will have to be reached next week if Greece is to meet the deadline of the IMF payment of USD1.7bn at the end of the month.”
“In Greece thousands of Greeks protested against the government and in favour of the euro adding pressure on its leaders to reach a solution.”
“According to several sources, the ECB plans to hold an emergency session of its Governing Council today to discuss the deteriorating liquidity situation of Greek banks. It is scheduled for noon and will consider a request from the central bank of Greece to increase the Emergency Liquidity Assistance by more than EUR3bn.”
“We believe that this is a crisis that will not be solved until the last minute and we still expect that an agreement will be reached in the coming week. Of course, the risk of an ‘accident’ rises the closer they move to the edge but we believe too much is at stake and a deal will be struck at some point during next week with German chancellor Angela Merkel playing a key role in bridging the differences.”