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1 Jul 2015
Greece bailout request denied, ECB meeting for ELA to Greek banks in focus – UOB
FXStreet (Barcelona) - Analysts at UOB Group, share the key developments surrounding the Greece bailout issue, Merkel’s comments on the same, and further add that ECB’s meeting for ELA to Greek banks will be in focus today.
Key Quotes
“It goes without saying that we will be closely monitoring any developments with respect to Greece. There has been a lot of noise overnight with respect to Greece. Greek leaders appealed to Europe’s finance ministers for a last second extension of their bailout and supplementary bailout funds. However, the request was denied, with Angela Merkel’s responding that “we’ll negotiate absolutely nothing” until the outcome of the referendum is known.”
“As it is, we have woken up this morning with Greece having failed to pay the EUR1.6bn payment to the IMF, and we will be one day closer to the July 5 referendum on whether or not the Greek people will accept the bailout terms proposed by Greece’s creditors.”
“Today, the ECB’s governing board will meet and consider its ELA to Greek banks.”
Key Quotes
“It goes without saying that we will be closely monitoring any developments with respect to Greece. There has been a lot of noise overnight with respect to Greece. Greek leaders appealed to Europe’s finance ministers for a last second extension of their bailout and supplementary bailout funds. However, the request was denied, with Angela Merkel’s responding that “we’ll negotiate absolutely nothing” until the outcome of the referendum is known.”
“As it is, we have woken up this morning with Greece having failed to pay the EUR1.6bn payment to the IMF, and we will be one day closer to the July 5 referendum on whether or not the Greek people will accept the bailout terms proposed by Greece’s creditors.”
“Today, the ECB’s governing board will meet and consider its ELA to Greek banks.”