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11 May 2015
Patience with Greece likely coming to an end – Rabobank
FXStreet (Barcelona) - The Rabobank Team comments on the speculation surrounding Grexit, and the debt payment to the IMF, and further add that the risks of inflicting a deeper cut appear to be rising.
Key Quotes
“There are reports today that patience with Greece is genuinely coming to an end. Bloomberg quotes figures close to Chancellor Merkel calling for Grexit; the UK Telegraph says that after a nine-hour cabinet meeting on Sunday, the Greek government has resolved to defy its creditors; an anonymous Greek minister quoted in the Telegraph states that Greece can make the EUR750m payment to the IMF tomorrow, but does not have the cash to last to the end of this month; and the WSJ states the IMF is preparing contingency plans for a Greek default.”
“We continue to believe all those involved will look up and see the razor-sharp blade of the Sword of Damocles hanging over their heads, but the risks of it inflicting a deep cut also appear to be rising.”
Key Quotes
“There are reports today that patience with Greece is genuinely coming to an end. Bloomberg quotes figures close to Chancellor Merkel calling for Grexit; the UK Telegraph says that after a nine-hour cabinet meeting on Sunday, the Greek government has resolved to defy its creditors; an anonymous Greek minister quoted in the Telegraph states that Greece can make the EUR750m payment to the IMF tomorrow, but does not have the cash to last to the end of this month; and the WSJ states the IMF is preparing contingency plans for a Greek default.”
“We continue to believe all those involved will look up and see the razor-sharp blade of the Sword of Damocles hanging over their heads, but the risks of it inflicting a deep cut also appear to be rising.”