($EURUSD, $MACRO) Greece’s ability to avoid default hangs in the balance this week as international monitors get set to assess whether Prime Minister George Papandreou can meet the conditions of rescue loans. The Greek leader canceled a U.S. visit that was to begin yesterday, saying he needed to remain in the country for a “critical” seven days.
“The Greek situation could be coming to a head,” said Khiem Do, the Hong Kong-based head of multi asset strategy at Baring Asset Management, which oversees about $10 billion. “Some hair cut might be needed for Greece if it doesn’t receive additional funding. That could create a domino effect in countries like Spain, Italy and Portugal. That’s what the market is fearing.”
European Union and International Monetary Fund inspectors will hold a teleconference call today with Greece’s Finance Minister Evangelos Venizelos to judge whether the government is eligible for its next aid payment, due next month.
“The Greek situation could be coming to a head,” said Khiem Do, the Hong Kong-based head of multi asset strategy at Baring Asset Management, which oversees about $10 billion. “Some hair cut might be needed for Greece if it doesn’t receive additional funding. That could create a domino effect in countries like Spain, Italy and Portugal. That’s what the market is fearing.”
European Union and International Monetary Fund inspectors will hold a teleconference call today with Greece’s Finance Minister Evangelos Venizelos to judge whether the government is eligible for its next aid payment, due next month.
No comments:
Post a Comment