The Greek
drama – or should I say, soap opera – is finally winding down after months and
months of negotiations between the two sides. There will be no Grexit – Greece and the
Eurozone finally struck a deal. That said, the aforementioned deal offers worse
conditions than the ones Greece
received before the ill-fated and ultimately irrelevant referendum. Not to
mention that it is conditional on the reforms that Alexis Tsipras has to
rush through parliament by Wednesday.
Apart from the sharp drop of the EUR/USD the market’s
reaction to this news wasn’t as enthusiastic as I thought it would be, but the
good news is that maybe now things might start returning to normal.
Thanks for the relevant information!
ReplyDeleteThere maybe a deal on the table short term, but both the Greek and its creditors know the fact that Greece unlikely repay its entire debts, which probably result the Euro's weakness today.
ReplyDeletetic tac...tic tac...tic tac! Let's see if Wednesday brings joy!
ReplyDeleteIt shall be hard to implement the agreed measures in the economy and Greek society.
ReplyDeleteWednesday we can be sure about that!
ReplyDeleteno grexit, they voted yes to the deal.
ReplyDeleteAs if nothing ever happened.
ReplyDelete