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25 Feb 2015
Greece waits for the parliamentary votes – UOB Group
FXStreet (Edinburgh) - Analysts at UOB Group assessed the next steps of the recent Eurogroup-Greece deal.
Key Quotes
“Greece received a temporary relief as the 19 Eurozone finance ministers on Tuesday (Feb 24) signed off in a telephone conference to back the new reforms proposed by Greece late Monday in exchange for a four-month extension of continued funding from its Eurogroup partners”.
“The Greek reform proposal must now go before several parliaments, including Germany’s, to get their approval for the extension before the current bailout expires on Saturday, 28 February”.
“The International Monetary Fund (IMF) and European Central Bank (ECB) have expressed their reservations about the six-page list of reforms presented by Yanis Varoufakis, Greek finance minister, noting that it failed to adhere to the current programme, as Athens had promised last week”.
“Even though the ECB and the IMF serve only in an advisory role to the Eurozone finance ministers, their concerns could have implications for parliaments”.
Key Quotes
“Greece received a temporary relief as the 19 Eurozone finance ministers on Tuesday (Feb 24) signed off in a telephone conference to back the new reforms proposed by Greece late Monday in exchange for a four-month extension of continued funding from its Eurogroup partners”.
“The Greek reform proposal must now go before several parliaments, including Germany’s, to get their approval for the extension before the current bailout expires on Saturday, 28 February”.
“The International Monetary Fund (IMF) and European Central Bank (ECB) have expressed their reservations about the six-page list of reforms presented by Yanis Varoufakis, Greek finance minister, noting that it failed to adhere to the current programme, as Athens had promised last week”.
“Even though the ECB and the IMF serve only in an advisory role to the Eurozone finance ministers, their concerns could have implications for parliaments”.