Germany’s Finance Minister may have softened his stance - Rabobank

Piotr Matys, EM FX Strategist at Rabobank, notes that the Eurozone finance ministers met on Monday to discuss a potential debt relief for Greece.

Key Quotes

“And to overcome their differences with IMF officials who recently voiced their scepticism whether Athens will stay on course to meet debt and deficit targets. The IMF insists that if Greece misses the fiscal goals set as part of the agreement with the Troika, additional austerity measures will be implemented.

That said, as Christine Lagarde outlined in her letter published ahead of Monday’s talks, the creditors should also agree to ease Greece’s debt burden. After previously strongly opposing any debt relief, it seems that Germany’s Finance Minister Wolfgang Schauble may have modestly softened his stance.”