13 May 2015
Greece might run out of cash within weeks – Blueprint Capital
FXStreet (Barcelona) - The Blueprint Capital FX Team shares the key developments concerning Greece, noting that the recent bond sell off might be due to the heightened concerns that Greeks might run out of cash soon.
Key Quotes
“Renewed fear of a Greece default caused stock and bond markets to slide yesterday. Earlier in the week finance minister Varoufakis insisted that good progress was being made in the meetings, but it wasn’t enough to convince markets in part due to the fact it was revealed that the €750 repayment to the International Monetary Fund (IMF) came out of another account with the IMF!”
“At the end of this month the Greek government needs to find more than €1bn to pay salaries and other costs, with fears they could run out of cash within weeks. This is being particularly seen in the bond market with the recent sell offs and volatility.”
Key Quotes
“Renewed fear of a Greece default caused stock and bond markets to slide yesterday. Earlier in the week finance minister Varoufakis insisted that good progress was being made in the meetings, but it wasn’t enough to convince markets in part due to the fact it was revealed that the €750 repayment to the International Monetary Fund (IMF) came out of another account with the IMF!”
“At the end of this month the Greek government needs to find more than €1bn to pay salaries and other costs, with fears they could run out of cash within weeks. This is being particularly seen in the bond market with the recent sell offs and volatility.”