The Euro hit a 2 month high fueled by optimism over Greece before slipping back over the last few hours. According to reports, Greek officials have agreed to all terms except one which will see talks continue later on today.
Most analysts believe that we will see the deal go through later on today, but at this stage, we've heard it all before. So we'll have to wait and see what happens.
If the deal does go through, it would likely offer only a short-term boost to the Euro given the ongoing uncertainties about Greece and the other Euro Zone economies.
Greek parties stopped just short of signing off on austerity measures for a 130 billion-euro ($172 billion) rescue package. Nevertheless, the Euro hit a new two-month high earlier on Thursday on belief that Greece is now closer to a bailout deal.
All points of a bailout package were agreed on bar pension cuts. The main issue there revolves around finding alternatives to make up for a 300-million Euro shortfall.
Officials have said that discussions with international lenders were still underway so that a deal could be concluded before a meeting of Euro zone finance ministers today.
The Institute of International Finance is to hold a meeting to discuss technical matters. The idea is that if an accord between Greece and the troika is reached, a debt swap could be implemented quickly.
European Central Bank policy makers also hold their monthly meeting today in Frankfurt. They face questions on their potential role in helping Greece reduce its debt as the threat of a disorderly default mounts.
Most analysts believe that we will see the deal go through later on today, but at this stage, we've heard it all before. So we'll have to wait and see what happens.
If the deal does go through, it would likely offer only a short-term boost to the Euro given the ongoing uncertainties about Greece and the other Euro Zone economies.
Greek parties stopped just short of signing off on austerity measures for a 130 billion-euro ($172 billion) rescue package. Nevertheless, the Euro hit a new two-month high earlier on Thursday on belief that Greece is now closer to a bailout deal.
All points of a bailout package were agreed on bar pension cuts. The main issue there revolves around finding alternatives to make up for a 300-million Euro shortfall.
Officials have said that discussions with international lenders were still underway so that a deal could be concluded before a meeting of Euro zone finance ministers today.
The Institute of International Finance is to hold a meeting to discuss technical matters. The idea is that if an accord between Greece and the troika is reached, a debt swap could be implemented quickly.
European Central Bank policy makers also hold their monthly meeting today in Frankfurt. They face questions on their potential role in helping Greece reduce its debt as the threat of a disorderly default mounts.
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