The EU is kicking the can down the road, saying the Greek situation will be reviewed in mid-May. Proposals on tighter economic cooperation will be made in mid-April. Greece does not need financial assistance today, he says.
Greece has made a pretty convincing case that despite austerity it cannot service its debt at rates 300 bp higher than the European benchmark. The EU seems not to care…
EUR/USD is sick of the whole EU/Greek situation and trades at 1.3715. Sellers are eyed toward 1.3730.
