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10 Dec 2014
FXStreet: Greek reaction shows what happens when markets forget EU alongside ECB policy – Tip Tv
FXStreet (Barcelona) - FXStreet’s Craig Drake and The Tip Tv Team cover greek implications and discuss about a possible exit of Greece from the European Union.
Key Quotes
“Yesterday’s Greek reaction shows what happens when markets stop conflating ECB policy with fundamental EU economy”
“The political turmoil in Greece forced markets to take a pause from their fixation with the next policy that ECB president Mario Draghi may have up his sleeve and instead pay some attention to the fundamentals of the economy of the European Union. The man on the street in Greece doesn’t give an olive about aspirations about pan-European fiscal policy. And he is probably not too keen on being told by the troika to take his austerity medicine. With opponents to Greek Prime Minister Antonis Samaras offering up an alternative to austerity and to responsibility, he is facing a tough battle to sell them the idea that the European experiment is one worth fighting for.”
“But while yesterday saw markets move out of risk assets (combined with impetus from weak Chinese data), today it’s likely that we’ll see a rebound in risk as markets once again look to the ECB to backstop the mis-managed economies of the Eurozone.”
Key Quotes
“Yesterday’s Greek reaction shows what happens when markets stop conflating ECB policy with fundamental EU economy”
“The political turmoil in Greece forced markets to take a pause from their fixation with the next policy that ECB president Mario Draghi may have up his sleeve and instead pay some attention to the fundamentals of the economy of the European Union. The man on the street in Greece doesn’t give an olive about aspirations about pan-European fiscal policy. And he is probably not too keen on being told by the troika to take his austerity medicine. With opponents to Greek Prime Minister Antonis Samaras offering up an alternative to austerity and to responsibility, he is facing a tough battle to sell them the idea that the European experiment is one worth fighting for.”
“But while yesterday saw markets move out of risk assets (combined with impetus from weak Chinese data), today it’s likely that we’ll see a rebound in risk as markets once again look to the ECB to backstop the mis-managed economies of the Eurozone.”