What is next for Greece?
Reports overnight suggest that confidence is building in a positive (i.e. funding solution is found) outcome for Greece. Notwithstanding the fact that a deal is yet to be done commentary from parties involved in the negotiations appears upbeat. Erik Nielsen, an Unicredit SpA economist in London, wrote in a note to clients; “We have now seen enough progress for the finishing line to have become visible... Failure from here is difficult to envisage. This means that various liquidity measures will be employed, as needed, until it’s all signed off - and the risk of arrears has significantly declined.” You can read the full article via Bloomberg here (VIEW LINK) which includes the graphic below showing the next steps for Greece.
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