8 Jul 2015
Greece warms up for further meetings – Deutsche Bank
FXStreet (Edinburgh) - Analyst Jim Reid at Deutsche Bank, assessed the upcoming events in Greece.
Key Quotes
“A Eurogroup meeting has now been scheduled for Saturday with a full EU summit planned for Sunday”.
“In the meantime Athens has been given until Thursday evening to submit detailed reform proposals (although EC President Juncker suggested that this may be Friday morning)”.
“Greece will also have to commit to a list of prior actions to be voted through parliament before any financing can be provided and it’s likely that an even greater level of detail and commitment will be required from the Greece side relative to the previous EFSF negotiations given the deteriorating economic conditions Greece has faced over the last week”.
“Should the Greek proposals be deemed acceptable, then the Europeans will formally open negotiations for the ESM program as well as a possible short term bridge loan given that any disbursements under an ESM program are likely to take time (given the process of various parliamentary approvals)”.
Key Quotes
“A Eurogroup meeting has now been scheduled for Saturday with a full EU summit planned for Sunday”.
“In the meantime Athens has been given until Thursday evening to submit detailed reform proposals (although EC President Juncker suggested that this may be Friday morning)”.
“Greece will also have to commit to a list of prior actions to be voted through parliament before any financing can be provided and it’s likely that an even greater level of detail and commitment will be required from the Greece side relative to the previous EFSF negotiations given the deteriorating economic conditions Greece has faced over the last week”.
“Should the Greek proposals be deemed acceptable, then the Europeans will formally open negotiations for the ESM program as well as a possible short term bridge loan given that any disbursements under an ESM program are likely to take time (given the process of various parliamentary approvals)”.