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

February 22, 2017
Crude oil look set to resume bullish trend
Oil prices have been coiling for several weeks now with both contracts spending most of their time in a tight four dollar range...
February 22, 2017
Investors are questioning the stability of EU, should you?
The US radiant future under the Trumpnomics remains a hot topic for speculation, propelling the greenbacks demand. More and more investors are trying to hop on the Dollars gravy train, as caution is lowered...
February 22, 2017
Brent remained strongly bid
Sustained break above the 57.50 region is seen as minimum requirement needed to confirm bullish resumption. Once we break above the 57.50 hurdle, we think that the 58.50 level will be next. Meanwhile, we do not exclude a minor correction towards 56.50 dollars per barrel...

Tickmill Rating
FIBO Group Rating
 FXTM Rating
Larson&Holz IT Ltd Rating
Fort Financial Services Rating
OctaFX Rating

Binary.com Rating
EZTrader Rating
24option Rating
Banc De Binary Rating
IQ Option Rating
First Binary Option Service Rating