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23 Feb 2015
Markets assess the Greek deal – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments on the Friday’s Eurogroup meet and the reaction by Germany and Ireland.
Key Quotes
“Both the Greek govt and its European creditors claimed their side secured key concessions, but a closer examination of the Friday deal that sent US markets to record highs suggest it was Athens that did most of the caving.”
“Internal discord from the perceived betrayal of the voters that swept the anti-austerity govt into power was coming into focus over the weekend. Greece Minister for administrative reform Katrougalos said the question over rehiring of thousands of dismissed civil servants should not be up to negotiation.”
“Meanwhile, Germany's ruling CDU party official said the 4-month extension of aide will be approved "if Greece does its homework".”
“Likewise, Ireland Fin Min Noonan, who was among the critics of granting Greece exemption from austerity, said: "They're now compromising and compromising quite significantly... All that has been agreed is a process which allows them to continue with a programme along the lines of the programme they have already”."
“Greece govt planned to submit a list of reforms to euro zone finance ministers on Monday, and Fin Min Varoufakis has indicated he does not expect the pledges to be rejected, preventing the need for another Eurogroup summit.”
Key Quotes
“Both the Greek govt and its European creditors claimed their side secured key concessions, but a closer examination of the Friday deal that sent US markets to record highs suggest it was Athens that did most of the caving.”
“Internal discord from the perceived betrayal of the voters that swept the anti-austerity govt into power was coming into focus over the weekend. Greece Minister for administrative reform Katrougalos said the question over rehiring of thousands of dismissed civil servants should not be up to negotiation.”
“Meanwhile, Germany's ruling CDU party official said the 4-month extension of aide will be approved "if Greece does its homework".”
“Likewise, Ireland Fin Min Noonan, who was among the critics of granting Greece exemption from austerity, said: "They're now compromising and compromising quite significantly... All that has been agreed is a process which allows them to continue with a programme along the lines of the programme they have already”."
“Greece govt planned to submit a list of reforms to euro zone finance ministers on Monday, and Fin Min Varoufakis has indicated he does not expect the pledges to be rejected, preventing the need for another Eurogroup summit.”