20 Feb 2015
Germany remains a key obstacle for any deal with Greece – DB
FXStreet (Edinburgh) - Analysts at Deutsche Bank assessed the position from Germany regarding the imminence of the Eurogroup meeting.
Key Quotes
“Its face-off Friday in Brussels today (2pm start London time) with little hint as to which way things will go for Greece and the EU at the latest Eurogroup finance ministers meeting”.
“On the positive side it is a proper face to face meeting which wasn't always assured, and reports suggest that Tsipras and Merkel spoke at length last night which shows dialogue has occurred at the key level”.
“However on the negative side Germany were initially quite disdainful of Greece's request for a loan extension, calling it a "Trojan Horse" designed to change the terms of the remaining aid. They then went on to suggest that Greece submit no more than a three-sentence letter in requesting an extension including a promise to complete the program”.
“It’s looking more likely that the more positive headlines generated from Merkel’s phone call with Tsipras were aimed at toning down initial comments from German finance minister Schaeuble rather than highlight any sort of contrasting views within Germany”.
Key Quotes
“Its face-off Friday in Brussels today (2pm start London time) with little hint as to which way things will go for Greece and the EU at the latest Eurogroup finance ministers meeting”.
“On the positive side it is a proper face to face meeting which wasn't always assured, and reports suggest that Tsipras and Merkel spoke at length last night which shows dialogue has occurred at the key level”.
“However on the negative side Germany were initially quite disdainful of Greece's request for a loan extension, calling it a "Trojan Horse" designed to change the terms of the remaining aid. They then went on to suggest that Greece submit no more than a three-sentence letter in requesting an extension including a promise to complete the program”.
“It’s looking more likely that the more positive headlines generated from Merkel’s phone call with Tsipras were aimed at toning down initial comments from German finance minister Schaeuble rather than highlight any sort of contrasting views within Germany”.