Euro zone leaders: Greece must do more to earn rescue

Euro zone leaders: Greece must do more to earn rescue

From reuters.com

Euro zone leaders told near-bankrupt Greece at an emergency summit on Sunday that it must enact key reforms this week to restore trust before they will open talks on any new financial rescue to keep it in the European currency area. Leftist Prime Minister Alexis Tsipras will be required to push legislation through parliament to convince his 18 partners in the euro zone to release immediate funds to avert a state bankruptcy and start negotiations on a third bailout program. Six sweeping measures including tax and pension reforms will have to be enacted by Wednesday night and the entire package endorsed by parliament ... (full story)

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Comment #1
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Jul 12, 2015 5:13pm Jul 12, 2015 5:13pm

ogrimcc
| Joined Jan 2013 | Status: Member | 61 Comments

Kick the can down the road for f**** sakes how much longer is this going on for getting sick of it been five years now

Comment #2
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Jul 12, 2015 5:16pm Jul 12, 2015 5:16pm

TCentral
| Commercial Member | Joined Jun 2015 | 69 Comments

They get the cash, you like or not, the whole thing is just a show that makes pips

Comment #3
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Jul 12, 2015 5:39pm Jul 12, 2015 5:39pm

Agent Orange
| Commercial Member | Joined Jul 2013 | 29 Comments

I dont think anyone cares about Greece anymore......this situation has been going on for too long for the majority of people. Whether Greece gets the bailout or not, wont effect the markets now.

Respect the inescapable certainity of Math

Comment #4
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Jul 12, 2015 7:32pm Jul 12, 2015 7:32pm

fxbombardier
| Joined Jan 2015 | Status: Member | 132 Comments

Looks like Greece will continue to be the sick man of Europe for a long , long time and will continue to drag the Euro down. Bailout or no bailout the EURUSD market seems to has priced in this debacle that's for sure simply because it has been dragging far too long that the market has lived up to the roller coaster situation. Furthermore EU has contingency plans, built firewalls, fenced itself from an ultimate scenario of a Grexit. That's very, very good. Besides, a knock on effect will surely be felt globally but recent evident showed from the Greek "no" referendum case, generally it had a small and limited effect only to affected currencies.

So live with it.

Story Stats

Posted: Jul 12, 2015 4:56pm
Submitted by:
Newsstand

Category: Fundamental Analysis

Comments: 4 / Views: 2,330