Reuters report on Eurogroup document. Still nothing from meeting yet.

Reuters is reporting on Eurogroup document laying out details on Greek debt.

Debt/GDP seen at 144 % in 2020, and at 111% in 2030

Talking about what sort of haircuts required

This is NOT official communique yet – still waiting.

EUR/USD is getting sold off a little.

 

 

Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.

10 Comments

  1. it’s 3.30 over here… can they speak already, trigger the stops and go to sleep?!

    God I hate those monkeys…

  2. EUD is not giving way, lots of indicators showing that EUD will get stronger in next several hours or a day or so. On every pair too. I dont get it.

  3. I don’t get it either; but I’m long since last wednesday.

    guess it goes up because it doesn’t go down. Let the analysts come up with a reason afterwards.

  4. George Soros says: “Invest first, investigate later”.

  5. Vlad im going short for many pairs against Euro,
    There is just so much bad news, so far i do not see the light at the end of that tunnel. I could be wrong though. But they need to do more than talks to bring the economy back on track, a lot more than just talks.

  6. no offense, but that’ll take 20+ years… There’s no magic card whatsoever.

    but… everyone knows all of the above.

  7. Is it conceivable that they will have anything that will make one iota of a difference? In the last 48 (?) hrs I’ve seen that much data seemingly ignored by the market it is not funny. Especially the France de-rating.

  8. Bloomberg is reporting that the finance leaders have just found a solution for world hunger! No wonder it took so long!^^

  9. @tony

    imho, not one chance… Merkel won’t write down debt now due to elections, Greece is… well, as broke as ever, plus everyone passes the tab to the next guy at the table… The only solution is Germany leaves, debt is euro denominated, since euro would plunge(obviously), voila a probably 30%+ haircut due to exchange rate. Unexpectedly, Germany doesn’t want to leave yet…

  10. Mixed signals…huh:Sell EUR/USD At 1.28, Add At 1.2830 Targeting 1.2530 – Credit Suisse, EUR/USD Corrective Downturn Run Its Course; Bulls To Shoot For 1.3178/72 – BofA Merrill

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