Greece’s last-ditch offer of new reforms might have raised a cheer on the markets Monday, but whether the measures will pass muster among the country’s creditors – let alone its own parliament and people — is another matter.
As Greece’s Prime Minister Alexis Tsipras flew into Brussels Monday to try to avert a debt default by his country, thousands of Greeks gathered in central Athens in rival camps to protest against austerity and a potential Greek exit of the euro zone.
Tsipras and his Syriza party, elected in January on their anti-austerity pledges, could now face a backlash within Greece for their new reform proposals to Greece’s lenders.
On Tuesday, Greece’s deputy speaker of parliament said Greek lawmakers could struggle to pass the reform program offered to lenders by Tsipras, telling Greek broadcaster Mega TV that he believed it would be “difficult to pass by us,” according to Reuters.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.