DB co-Ceo Says Greek Deal is Possible in Short Term

Anshu Jain, co-CEO of the German financial powerhouse Deutsche Bank, told CNBC on Wednesday that none of the euro zone countries wants Greece to exit the currency union.
“The odds we get some sort of a short-term deal are reasonably good. The medium and longer-term outlook to me is still quite troubling,” Jain said in a CNBC “Squawk Box” interview ahead an important meeting between Greek Finance Minister Yanis Varoufakis and his euro zone counterparts in Brussels.

Varoufakis is expected to propose a four-pillar overhaul of his country’s current bailout program.

Jain said, “We are poised at a pretty unfortunate juncture … because Greece was definitely heading in the right direction.”

The Greek austerity plan was working, he added, but acknowledged the political realities in Athens after the leftist government prevailed in last month’s election.

“One has to respect democracy. But we now have a government which is moving in a different direction, which of course creates a level of tension between them and the troika, which has been funding them,” Jain said, referring to the European Central Bank, International Monetary Fund, and European Commission.

via CNBC

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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