10 Mar 2015
Greek scenario continues to deteriorate – BBH
FXStreet (Edinburgh) - The research team at BBH assessed the current panorama in the Greek-Eurogroup debt talks.
Key Quotes
“The latest reform proposals, delivered at the end of last week, were different from the proposals from February 20th rather than further developing them. According to press reports, some EU officials dismissed the latest proposals as "amateurish". It follows sending wrong documents and contradictory signals. This is not the same as inexperienced, which is a given and forgivable”.
“Greece has painfully little room to maneuver as the official creditor demands are onerous. The official creditors have cut off the assistance funds to Greece since the middle of last year, long before Syriza's electoral victory”.
“New technical discussions will start on Wednesday in Brussels. For largely symbolic reasons, Greece has resisted a visit by the official creditors to Athens. This has caused a delay and deepened the sense exasperation. Greece has a T-bill auction this week that will largely offset a maturing issue. It has a roughly another 300 mln euro payment due to the IMF by the end of the week”.
Key Quotes
“The latest reform proposals, delivered at the end of last week, were different from the proposals from February 20th rather than further developing them. According to press reports, some EU officials dismissed the latest proposals as "amateurish". It follows sending wrong documents and contradictory signals. This is not the same as inexperienced, which is a given and forgivable”.
“Greece has painfully little room to maneuver as the official creditor demands are onerous. The official creditors have cut off the assistance funds to Greece since the middle of last year, long before Syriza's electoral victory”.
“New technical discussions will start on Wednesday in Brussels. For largely symbolic reasons, Greece has resisted a visit by the official creditors to Athens. This has caused a delay and deepened the sense exasperation. Greece has a T-bill auction this week that will largely offset a maturing issue. It has a roughly another 300 mln euro payment due to the IMF by the end of the week”.