Tag Archives: Greece
Europe Week Summary
This year began with worries about Europe’s banks — and it is ending on a similar note. On Wednesday, the European Central Bank extended more than 489 billion euros ($636 billion) in low-interest loans to euro-zone banks to help ease a funding squeeze. That was way more than the 250 billion euros to 350 billion […]
Greece talks
Talks between Greece and its private creditors over a planned debt exchange program have advanced, a local newspaper reports Monday, after the two sides reached a deal to apply U.K. law to new bonds issued by the Greek government.
Greece fresh austerity in 2012
Greece’s international auditors have told the government it must adopt a further EUR2 billion in fresh austerity measures early next year, a local newspaper reports, amid signs that the country will miss its revised 2011 budget targets.
Behavioral Finance: Daily Forex Outlook: Will US be another headwind for global growth?
EUR/USD (1.3760) The formation of technocratic governments in Italy and Greece, and the improved prospect of the financial stability law being passed in Italy have more or less given the impression to the market that near-term the European crisis may still be contained.
Behavioral Finance: Daily Forex Outlook: Contrasting views on the eurozone
EUR/USD (1.3825) The Italian PM Berlusconi has agreed to resign as soon as the Parliament passes the austerity measures pledged to the EU.
FX DAILY STRATEGIST: US – 17 Oct 2011
Eurozone optimism to be tested ahead of Sunday EU Summit The risk rally from last week continued into the Asian session with the G20 weekend meeting promoting expectations of a concrete plans to be put in place at the EU Summit on 23 October on the leveraging of the EFSF, European bank recapitalisations and details […]
Behavioral Finance: Daily Forex Outlook: Eurozone crisis gets an expiry date
EUR/USD (1.3455) Heartened by better-than-expected US employment data, traders pushed the euro to a short-lived spike on Friday. But the realisation soon settled in that moderate US employment gains look positive as they stem from tepid expectations.
Merkel and Sarkozy call for ‘durable’ solution for Greece, but fail to agree on the specifics of bank recapitalisation
There is growing evidence that the deal for Greece reached in July is unravelling. On Sunday, German Finance Minister Wolfgang Schaeuble told Frankfurter Allgemeine Sonntagszeitung that euro governments may have come up short on the scale of Greek debt writedowns when they reached the agreement in July.
Greece: Government to submit fiscal plan today following ongoing discussions with Troika
Reports by local and international media (Ekathimerini, FT, Bloomberg) indicate that the Greek government has agreed on fiscal measures, including the 2012 budget, which will be submitted to a parliamentary budget committee today. While the government plans have not yet been made public, according to the press the plans include details on revised deficit targets, […]
What matters today (Asia edition)
Developed macro 1. ECB meeting on Thursday is the obvious focal point of another eventful week in the Eurozone. Greece still in the spotlight, but no decision expected at today’s Eurogroup meeting. 2. Datawise, the final releases of Eurozone PMI indices today should remain consistent with economic weakness in the periphery. 3. The US ISM […]
Greece: Troika reported to conclude assessment by Monday; government to hold extraordinary meeting
Local media report that the Troika resumed monitoring Greek public finances on Wednesday and is supposed to release its assessment by Monday, while the government will have to approve labour market reforms, the 2012 budget draft and the new medium-term fiscal plan.
FX DAILY STRATEGIST: Europe – 26 September 2011
Friday optimism once again gives way to disappointment FX markets showed a little more stability on Friday, but once again this has proven temporary. Reports that EU officials were contemplating bringing forward the creation of the ESM (successor to the EFSF) to 2012, and that it would have capital of EUR500bn, helped drive optimism that […]