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25 May 2015
Greece says the money for IMF repayment does not exist – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments on the key developments involving Greece and its lenders, noting that reports suggest Greece won’t be able to make the next IMF repayment unless a deal is reached.
Key Quotes
“EUR/USD saw some early session weakness with a 40pip drop below 1.0970, as the standoff between Athens and European creditors appears to have taken a turn for the worse. Greek media report citing Interior Minister indicated Greece will not have the money to repay €1.6B to the IMF next month unless a new deal with creditors is reached.”
“Likewise, PM Tsipras reiterated there is a limit to what Greek govt is prepared to accept from the creditors. And even if the standoff does result in a stalemate, a referendum is not likely to break the ice - according to a weekend poll, 59% of respondents support govt position of not giving in to European creditors, but 71% still want to keep the Euro.”
“German-led creditors are hardly budging also - Fin Min Schaeuble speaking to German press said there is no need to discuss "alternatives" on Greece, as Athens needs to deliver what it promised.”
Key Quotes
“EUR/USD saw some early session weakness with a 40pip drop below 1.0970, as the standoff between Athens and European creditors appears to have taken a turn for the worse. Greek media report citing Interior Minister indicated Greece will not have the money to repay €1.6B to the IMF next month unless a new deal with creditors is reached.”
“Likewise, PM Tsipras reiterated there is a limit to what Greek govt is prepared to accept from the creditors. And even if the standoff does result in a stalemate, a referendum is not likely to break the ice - according to a weekend poll, 59% of respondents support govt position of not giving in to European creditors, but 71% still want to keep the Euro.”
“German-led creditors are hardly budging also - Fin Min Schaeuble speaking to German press said there is no need to discuss "alternatives" on Greece, as Athens needs to deliver what it promised.”