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Euro and DAX back under pressure as volatility remains high
Today is almost certainly the day that Greece will default on its IMF repayment of €1.6bn. The IMF may not necessarily treat it as an outright default yet as it will still want to get its money back, however this is the reality of dealing with the leftist Syriza government that is advising the Greek public to vote “No” in Sunday’s referendum on whether to acquiesce to the terms laid out by the negotiators. With the current bailout programme also expiring today it is difficult to see how Greece can remain part of the Eurozone if it votes “No”. Markets have been extremely volatile in the past day or so, and ... (full story)