Greek PM Stresses He is not Looking for a Debt Fight

Calm down! Greece is not looking for a fight with its creditors.

At least that’s what Prime Minister Alexis Tsipras says, despite winning power on the back of calls to have half the country’s enormous debt written off.

Tsipras said his government was looking for an agreement on Greek debt that would be beneficial for all parties.

“It has never been our intention to act unilaterally on Greek debt,” he said in a statement.
Yet on Friday, his own finance minister told reporters the Greek government would not cooperate with officials representing its three biggest lenders: other eurozone countries, the European Central Bank and the International Monetary Fund.

The standoff with Europe has sent Greek markets tanking as investors freaked out about the possibility of the country exiting the euro.

Britain’s Chancellor of the Exchequer George Osborne called the issue “the biggest threat to the global economy” after meeting his Greek counterpart Monday.

via CNN

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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