Camilla Sutton, Chief FX Strategist and Managing Director at Scotiabank noted the forthcoming meeting between Greece's FM and the Eurogroup this Wednesday.
Key Quotes:
"As the February 28th bailout program expiry looms and bond payments follow closely in March,Greece is expected to put forth a proposal to creditors at Wednesday’s meeting of the finance ministers and heads of state."
"News reports suggest that the compromise would ad‐ here to close to 70% of the current austerity measures but the remaining 30% would be revised; in addition it would include bridge financing, a reduction in the primary surplus target, and a debt swap."
"This is an important risk for EUR, with the market likely to become increasingly sensitive to headline risks over the coming days."
Key Quotes:
"As the February 28th bailout program expiry looms and bond payments follow closely in March,Greece is expected to put forth a proposal to creditors at Wednesday’s meeting of the finance ministers and heads of state."
"News reports suggest that the compromise would ad‐ here to close to 70% of the current austerity measures but the remaining 30% would be revised; in addition it would include bridge financing, a reduction in the primary surplus target, and a debt swap."
"This is an important risk for EUR, with the market likely to become increasingly sensitive to headline risks over the coming days."
