Eurozone Rules Out Further Greek Talks Until After Referendum

July 2, 2015 Share Print 0

Eurozone finance ministers have ruled out any further talks on a fresh bailout for Greece until the country holds its referendum on Sunday.

Greeks will be asked to accept or reject proposals made by creditors last week, with Prime Minister Alexis Tsipras urging a “No” vote.

Finance Minister Yanis Varoufakis accused the creditors of blackmail.

But he pledged a deal would be reached soon after the vote and that current limits on bank withdrawals would ease.

Greek banks did not open this week after the European Central Bank froze their liquidity lifeline.

Withdrawals from cash machines are capped at just €60 (£43; $66) a day but some bank branches have reopened to allow pensioners – many of whom do not use bank cards – a one-off weekly withdrawal of up to €120.

Long queues formed outside banks for a second day on Thursday morning.

via BBC

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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.