Political rhetoric has boosted the EUR during the European and mid North American session. Greece and Spain are the main beneficiaries as their bailout agreements and terms seem to be more favourable with statements from Germany pointing to some concessions.
Concessions are possible for Greece so long as Prime Minister Antonis Samaras shows a willingness to meet the main targets set out in his countryâ€™s bailout program, a senior lawmaker with Chancellor Angela Merkelâ€™s party said.
A precedent for program adjustments was made with the first Greek bailout, when the country secured lower interest rates and longer maturities on bilateral loans than those originally set, Norbert Barthle, the Christian Democratic Unionâ€™s budget spokesman in parliament, said today in a telephone interview.
â€œSmall concessions are feasible provided they are strictly made within the framework of the second aid program,â€ Barthle said. â€œFor instance, the interest and maturity on loans could be adjusted, as in the case of the first aid package for Greece.â€