Greek PM Says Solution to Debt Stand-off Possible

Greece’s new prime minister says he believes it will be possible to find a solution to the stand-off with the EU over his country’s debt.

Alexis Tsipras said he was “optimistic” after meeting the heads of the European Commission, European Council and European Parliament in Brussels.

He and his finance minister are on a diplomatic offensive to reassure eurozone leaders about their plans.

Mr Tsipras has pledged to renegotiate the terms of a €240bn (£182bn) bailout.

His far-left party Syriza was elected last month on a promise to end austerity measures.

‘Good direction’
“We respect the rules of the European Union,” Mr Tsipras said after his meetings on Wednesday.

“I’m very optimistic… Of course we don’t have already an agreement but we are in a good direction to find a viable agreement.”

Speaking at the joint news conference, European Parliament President Martin Schulz described their talks as “fruitful” but said there were difficult times ahead.

via BBC

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.

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