Greece unlikely to make the IMF repayment today

June 30, 2015

Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ, shares their observations regarding the Greece repayment.

Key Quotes

“An unnamed Greek official has stated that government will not make the EUR1.6 billion repayment due to the IMF today. The credit rating agencies have already reported that a missed payment to the IMF today would not constitute a formal default as it is an official entity.”

“Euro-zone officials have indicated as well that it will not affect other official loans owed by Greece. However, it has been reported that if IMF Director Lagarde tells her board that Greece has defaulted, then the European Financial stability Facility would have to decide among three options: i) to claim the funds Greece owes to the EFSF, ii) waive the EFSF’s right to the money, or iii) invoke a “reversion of rights” that would avid an immediate claim while maintaining the option to take such a step.”

“It also remains unclear how the ECB will react to a missed payment to the IMF which may have an impact on their decision tomorrow when setting the provision of emergency liquidity assistance to Greek banks.”

Publication source
HYCM information  HYCM reviews

September 26, 2016
The aftershocks of FOMC
The FED did not raise interest rates last week, as it was anticipated by many market participants. It seems like the FED decided to go with status quo and wait until a new American president is elected. We are waiting for a rate hike to take a place in December as it would be logical and a well justified thing to happen...
September 26, 2016
The week ahead: Focus shifts from central banks to politics
Monday’s US presidential debate will probably break a new record, not in the S&P 500, but the number of viewers which according to media analyst could reach over 100 million Americans, surpassing Carter-Reagan debate in 1980 which attracted 80.6 million viewers...
September 23, 2016
Risk rating
The market is in need of a new narrative. The Fed meeting in December is too far off and for now, the US election is not something that entices excitement. With central banks on hold, markets are pushing the envelope in terms of risk...

Orbex Rating
FOREX.com Rating
OctaFX Rating
Grand Capital Rating
Larson&Holz IT Ltd Rating
Vantage FX Rating

OptionRally Rating
IQ Option Rating
24option Rating
EZTrader Rating
Porter Finance Rating
365BinaryOption Rating