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10 Feb 2015
Preview of a probable four point proposal by Greece – Investec
FXStreet (Barcelona) - The Investec Team previews a probable four point proposal to be made by Greece in tomorrow’s Eurogroup meeting of Finance Ministers, as highlighted in the Greek newspaper Kathimerini.
Key Quotes
“Tomorrow’s Eurogroup meeting of Finance Ministers will be a critical forum as markets await news of whether the Greek government starts to ease up on its hard line rhetoric and starts to negotiate seriously.”
“Indeed Greek newspaper Kathimerini has seen a preview of a four point proposal to be tabled by Greece, consisting of; i) 30% of the agreement with the Troika to be scrapped in favour of 10 new reforms; ii) this year’s primary (i.e. ex-interest payment) budget surplus target to be reduced to 1.5% from 3%; iii) a debt swap; and iv) measures to end the ‘humanitarian crisis’ in Greece.”
“It may take time to reach an agreement, but the proposals do form the basis of a more constructive discussion and one thing that European leaders have proved very adept at over the past few years is kicking the can further down the road.”
Key Quotes
“Tomorrow’s Eurogroup meeting of Finance Ministers will be a critical forum as markets await news of whether the Greek government starts to ease up on its hard line rhetoric and starts to negotiate seriously.”
“Indeed Greek newspaper Kathimerini has seen a preview of a four point proposal to be tabled by Greece, consisting of; i) 30% of the agreement with the Troika to be scrapped in favour of 10 new reforms; ii) this year’s primary (i.e. ex-interest payment) budget surplus target to be reduced to 1.5% from 3%; iii) a debt swap; and iv) measures to end the ‘humanitarian crisis’ in Greece.”
“It may take time to reach an agreement, but the proposals do form the basis of a more constructive discussion and one thing that European leaders have proved very adept at over the past few years is kicking the can further down the road.”