Greece Makes IMF Payment But Focus on Next Week

Greece made a small interest payment to the International Monetary Fund on Wednesday but European lenders dashed hopes for a cash-for-reforms deal before a more crucial, bigger instalment Athens must pay next week.

Prime minister Alexis Tsipras’ government sought to shift blame on Tuesday onto the euro zone and IMF for a lack of agreement in the three-month-old negotiations, charging that each was setting different “red lines” on multiple issues from pension and labour reforms to the primary budget surplus.

But EU officials accuse Greece of failing to produce enough concessions ahead of Monday’s Eurogroup meeting of euro zone finance ministers and the group’s chief, Jeroen Dijsselbloem, said an agreement then is no longer possible.

via Irish Times

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza