Greek Concerns Drive European Stocks Down

European stocks have fallen after a Greek minister said that Athens would struggle to meet its upcoming debt payments.

Interior Minister Nikos Voutsis made his comments during a weekend TV programme.
Stocks on Greece’s ATG index are trading 2.13% lower on the day at 822.34.

Greece needs to strike a deal with its creditors in order to release €7.2bn (£5.1bn) in remaining assistance.

“The four instalments for the IMF in June are €1.6bn, this money will not be given and is not there to be given,” Mr Voutsis said.

The country’s finance minister meanwhile has told the BBC on Sunday that progress was being made.

“Greece has made enormous strides at reaching a deal,” Yanis Varoufakis told the Andrew Marr Show.

Other benchmark indexes across Europe have also fallen.

The IBEX is down 2.21% to 11,298.3 after Spain’s voters punished the ruling Popular Party (PP) in local and regional elections.

France’s Cac-40 is down 0.84% to 5099.5, and Italy’s MIB is down 1.99% to 23,308.

via BBC

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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