As Greece faces having to push major reforms through parliament before Wednesday to prove to its creditors it can follow through with their terms, investors are getting twitchy.
A breakdown in trust between Greece and its lenders has led to soured relations, particularly with the euro zone’s largest economy Germany. This in turn has made it very difficult for asset managers to make investment decisions as markets remain highly volatile.
“I think the market went into the weekend thinking we were going to get a better result than it looks like we’re getting, so once again markets were ahead of the politics and I think the permutations that have emerged like this “waiting room” idea is very difficult to implement, but underscores how nobody really wants Grexit and yet no one know how to resolve it,” Tina Fordham, chief global political analyst at Citi told CNBC.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015