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26 Jun 2015
A long weekend ahead - BAML
FXStreet (Guatemala) - Analysts a Bank of America Merrill Lynch explained that while the gaps between the creditors and the Greek government have narrowed, they remain significant.
Key Quotes:
"The Greek decision to renege on proposals to increase VAT to 23% for the Greek islands in particular appears to have soured negotiations. As we approach a final Eurogroup meeting scheduled for 17:00 CET tomorrow, it is unclear whether the Greek government can make enough concessions for a deal to be struck."
"There is also a risk that Prime Minister Tsipras chooses to put any deal to a referendum. Given how long that could take, it would not be possible for an agreement to be reached in time for the IMF payment to be made on June 30th, or for the current arrangement with the European creditors to be extended."
Key Quotes:
"The Greek decision to renege on proposals to increase VAT to 23% for the Greek islands in particular appears to have soured negotiations. As we approach a final Eurogroup meeting scheduled for 17:00 CET tomorrow, it is unclear whether the Greek government can make enough concessions for a deal to be struck."
"There is also a risk that Prime Minister Tsipras chooses to put any deal to a referendum. Given how long that could take, it would not be possible for an agreement to be reached in time for the IMF payment to be made on June 30th, or for the current arrangement with the European creditors to be extended."