16 Feb 2015
Greek FM in hopes to find a short-term ‘bridge loan’ – KBC
FXStreet (Barcelona) - The KBC Bank Research Desk note that the eurogroup-greece meeting will remain of key focus in today’s data light day, further adding that the Greek FM Varoufakis hopes to find a short-term ‘bridge-loan’ to cover liquidity needs and buy more time to reach an agreement with the EU.
Key Quotes
“Topic of debate at tonight’s Euro group meeting is Greece. Since the Syriza election victory, Greek PM Tsipras and Greek FM Varoufakis held a harsh line on the future of the bailout progamme.”
“Water between Greece and Europe is very deep as proven by last week’s indecisive extraordinary Euro group meeting. On the sidelines of the EU Summit, technical discussions intensified.”
“Tonight, Greek FM Varoufakis hopes to find a short term “bridge loan” to cover liquidity needs and buy time to reach agreement on a new “contract” with Europe over the next couple of months (solution for LT debt problem, changing austerity measures by structural reforms, etc…).”
“Short-term funds should enable Greece to exit the current bailout programme as it expires at the end of February. That’s a thorny issue for Europe.”
“Their mantra goes: no bailout (monitoring), no funds. Therefore, semantics could be an important feature of an agreement. It remains uncertain though whether an agreement could already be reached at this meeting.”
Key Quotes
“Topic of debate at tonight’s Euro group meeting is Greece. Since the Syriza election victory, Greek PM Tsipras and Greek FM Varoufakis held a harsh line on the future of the bailout progamme.”
“Water between Greece and Europe is very deep as proven by last week’s indecisive extraordinary Euro group meeting. On the sidelines of the EU Summit, technical discussions intensified.”
“Tonight, Greek FM Varoufakis hopes to find a short term “bridge loan” to cover liquidity needs and buy time to reach agreement on a new “contract” with Europe over the next couple of months (solution for LT debt problem, changing austerity measures by structural reforms, etc…).”
“Short-term funds should enable Greece to exit the current bailout programme as it expires at the end of February. That’s a thorny issue for Europe.”
“Their mantra goes: no bailout (monitoring), no funds. Therefore, semantics could be an important feature of an agreement. It remains uncertain though whether an agreement could already be reached at this meeting.”