5 Jun 2015
Greece and the IMF in the limelight – Danske Bank
FXStreet (Edinburgh) - Chief Analyst Kasper Kirkegaard assessed the recent developments from Greece.
Key Quotes
“Greece will delay IMF repayments. The Greek government has notified the IMF that it will not make the scheduled EUR300m loan repayment today”.
“Rather, it will employ a procedure permitted under IMF rules (last used by Zambia in the 1980s) and bundle all its June payments and transfer it at the end of the month”.
“Talks continue and Tsipras, Merkel and Hollande spoke late last night via a conference call”.
“However, there are concerns that even if a deal is reached, it could trigger early elections or a referendum in Greece if a deal is perceived to have crossed Syriza’s ‘red lines’.
Key Quotes
“Greece will delay IMF repayments. The Greek government has notified the IMF that it will not make the scheduled EUR300m loan repayment today”.
“Rather, it will employ a procedure permitted under IMF rules (last used by Zambia in the 1980s) and bundle all its June payments and transfer it at the end of the month”.
“Talks continue and Tsipras, Merkel and Hollande spoke late last night via a conference call”.
“However, there are concerns that even if a deal is reached, it could trigger early elections or a referendum in Greece if a deal is perceived to have crossed Syriza’s ‘red lines’.