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9 Feb 2015
Headline risks around Greece to be high this week - RBS
FXStreet (Bali) - According to RBS, headline risks around Greece are likely to be high this week, adding that any EUR relief rallies on positive Greek news to be short-lived.
Key Quotes
"Over the weekend, Greece’s new government reiterated campaign promises to roll back on austerity measures. Greece’s SYRIZA-led government also said it would not accept an extension of Greece’s current bailout program, instead hoping to gain a “bridge agreement” to secure funding."
"The ongoing negotiations between Greece and its creditors heat up as several meetings between officials take place this week. G20 finance ministers and central bankers are meeting in Istanbul today and tomorrow, and later this week EU finance ministers meet (Feb 11th) ahead of the EU Leader’s Summit (Feb 12th)."
"As a result, headline risks around Greece’s potential bridge program are likely to be high this week. To be sure, we think Greece’s ongoing negotiations do little to change the underlying fundamental picture, which remains solidly EUR negative. As discussed in Global Themes for the Week, we expect EUR relief rallies on any positive Greek news to be short-lived."
Key Quotes
"Over the weekend, Greece’s new government reiterated campaign promises to roll back on austerity measures. Greece’s SYRIZA-led government also said it would not accept an extension of Greece’s current bailout program, instead hoping to gain a “bridge agreement” to secure funding."
"The ongoing negotiations between Greece and its creditors heat up as several meetings between officials take place this week. G20 finance ministers and central bankers are meeting in Istanbul today and tomorrow, and later this week EU finance ministers meet (Feb 11th) ahead of the EU Leader’s Summit (Feb 12th)."
"As a result, headline risks around Greece’s potential bridge program are likely to be high this week. To be sure, we think Greece’s ongoing negotiations do little to change the underlying fundamental picture, which remains solidly EUR negative. As discussed in Global Themes for the Week, we expect EUR relief rallies on any positive Greek news to be short-lived."