EU Meeting Agrees to Hold More Meetings

Time is running out on the Greek saga, and the two sides still aren’t close to a deal. There was a surge of optimism this weekend which has carried over into the markets on Monday. But the Europe finance ministers were quick to temper any enthusiasm. The Greek government has offered a new plan, but the EU hasn’t had a chance to look at the details just yet. There probably won’t be a breakthrough today.

The Greeks are demanding to meet with the big prime ministers of Europe, not just the bureaucrats within the EU. The meetings on Monday seem to be largely a waste of time. The only outcome is the promise of more meetings. Assuming a deal is reached soon, it still needs to pass the Greek parliament.

The Greek two-year is at 23%.6. Actually, I should say that it’s down to 23.6%. It had been much higher.

I have to believe that some deal at some point will be reached somehow. There’s more to lose than to gain. Still, I’m not willing to make a bet on that. Watch shares in the National Bank of Greece (NBG). They may shoot up or down by 15% over the next week.

Posted by on June 22nd, 2015 at 9:29 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.