Greece Fails in Washington Negotiations Next Round Eurogroup

Greek debt will be the main topic during the Eurogroup meetings next week. Bond yields have fallen in the rest of Europe as investor demand more yield form Greek bonds. Various finance ministers from the Euro zone have spoken out about the lack of clear reforms from Greece. The IMF also issued a stern statement about its negative about writing off Greek debt. All comments converge on the same point. Greece must get to work and come up with a series of reforms that bring the country to a more stable economic reality. There is little hope in the market that the Greek situation will be solved next week, but there are some hints that Greece is working towards more realistic reforms geared at servicing its debt.

Speaking in Washington Greek Finance Minister Yanis Varoufakis is trying to get lenders to delay their required payments in an effort to come up with the cash. The lenders as the IMF bluntly put will not write off any debt. Even with such a negative Greek PM Alexis Tsipras is still confident a deal con come in April. Fears of a Grexit continue to rise as more finance ministers and leaders continue to express their frustrations with a Greek contingent that seem to be unfazed by the looming deadline. Varoufakis comment on what Greek is willing to do to make a deal work sums up the situation. “compromise, compromise, compromise without being compromised”.

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