Greece and her creditors still have not struck a definitive deal to release the €7.2Bn bailout funds desperately needed by the Hellenic state to avoid default at the end of the month, in spite of yesterday’s hectic efforts and emergency summit in an attempt to do so. The Greek ministers had submitted proposals on Sunday … Read more Emergency Summit gives hope of Greek deal but it still hangs in the balance
It was a fairly subdued end to last week with little economic data of note and markets remained rangebound as a result. Those of you following the currency markets will know that most recent movement has been the result of news from Greece and the progress of their negotiations with the International Monetary Fund and … Read more Quiet End to Week with All Eyes on Euro Summit
We really shouldn’t be surprised to be hearing about the Greek debt crisis, it’s been going on for 5 years now. The only shock to recent readers of this and other FX blogs is that the saga is only 5 years old! The question on everyone’s lips as we approach the apparent ‘deadline’ at the … Read more Another day of Greek brinkmanship as the FX market warms up to the Fed meeting
Rumblings of a storm in the eurozone With the cold weather moving in, and most hoping the snow does not bring the UK to a halt, are we seeing the rumblings of a storm over in the eurozone? Preliminary figures for German CPI announced a decline of -1.0%, the first negative inflation rate in Germany … Read more Rumblings of a storm in the eurozone
Are Greece likely to default on their debt? Over the past few weeks we have seen global exchange rates move dramatically. With huge falls in oil prices, the Swiss franc being unpegged from the euro and new stimulus packages in Europe, it has been almost impossible to predict the direction of the exchange rates. The … Read more Will a Greece default see them leave the euro?