In the opinion of analysts at UOB Group, the developments from Greece will be the main focus of attention ahead in the week.
Key Quotes
“The focus remains on Greece, with the Eurogroup expected to discuss the issues on Wednesday ahead of a European Council meeting at the end of the week”.
“Notably, S&P downgraded Greece’s sovereign credit rating to B- (from B) with a negative outlook”.
“According to S&P, the downgrade reflected its view that the liquidity constrains weighing on Greece’s banks and its economy have narrowed the timeframe during which the new government can reach an agreement on a financing programme with its official creditors”.
Key Quotes
“The focus remains on Greece, with the Eurogroup expected to discuss the issues on Wednesday ahead of a European Council meeting at the end of the week”.
“Notably, S&P downgraded Greece’s sovereign credit rating to B- (from B) with a negative outlook”.
“According to S&P, the downgrade reflected its view that the liquidity constrains weighing on Greece’s banks and its economy have narrowed the timeframe during which the new government can reach an agreement on a financing programme with its official creditors”.
